BlackRock Fund Advisors has recently announced that it has increased stake in Pathward Financial Inc. (NASDAQ:CASH) by 0.57%. After grabbing 4.07 million shares, the institutional investor is now in possession of 23289.0 shares of the Financial Company. The new investment brought the stake of investor firm to 14.31% having worth around $175.37 million. Moreover, The Vanguard Group, Inc. increased its share by 48704.0 to have a control over 1.94 million shares. And Nantahala Capital Management LLC raised its holdings to 0.34 million shares by acquiring 1.33 million shares or 4.67% of the stake.
Pathward Financial Inc. (CASH) concluded trading on 01/18/23 at a closing price of $45.62, with 0.36 million shares of worth about $16.34 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 10.30% during that period and on Wednesday the price saw a loss of about -1.85%. Currently the company’s common shares owned by public are about 28.57M shares, out of which, 27.80M shares are available for trading.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the CASH stock and their offered price forecasts bring an average price target of $48.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $54.00 and could fall to a lowest price of $43.00. The stock’s current price level is 5.94% above of average price target set by the analysts, while a rise to estimated low would result in loss of -6.09% for the stock. However, touching the estimated high of $54.00 would mean a gain of 15.52% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 76 times over the past 12 months. They bought 99,338 shares in 23 of the transactions. In 53 selling transactions, insiders dumped 56,092 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Fidelity Series Small Cap Opportu are the top 3 mutual funds which are holding stakes in Pathward Financial Inc. iShares Core S&P Small Cap ETF is currently holding 2.04 million shares of worth totaling $87.77 million. The company recently came buying 0.0 shares which brought its stake up to 7.16% of the company’s outstanding shares. Fidelity Series Small Cap Opportu, after selling 0.79 million shares, have now control over 2.79% of the stake in the company. It holds 5000.0 shares of worth $34.16 million.
Pathward Financial Inc. (NASDAQ: CASH) started trading at $46.32, below -$0.16 from concluding price of the previous day. However, the stock later moved at a day high price of 46.76, or with a loss of -1.85%. Stock saw a price change of -1.74% in past 5 days and over the past one month there was a price change of 9.77%. Year-to-date (YTD), CASH shares are showing a performance of 5.97% which decreased to -27.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $31.16 but also hit the highest price of $63.82 during that period. The average intraday trading volume for Pathward Financial Inc. shares is 189.69K. The stock is currently trading 3.42% above its 20-day simple moving average (SMA20), while that difference is up 4.98% for SMA50 and it goes to 13.54% higher than SMA200.
BlackRock Fund Advisors acquired 4.07 million shares of Pathward Financial Inc. having value of about $175.37 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 23289.0 shares in the company valued at close to $1062444.18, or have control over 0.57% stake in the company. Pathward Financial Inc. (NASDAQ: CASH) currently have 28.57M outstanding shares and institutions hold larger chunk of about 93.10% of that. Holding of mutual funds in the company is about 42.60% while other institutional holders and individual stake holders have control over 45.88% and 14.83% of the stake respectively.
The stock has a current market capitalization of $1.29B and its 3Y-monthly beta is at 0.81. PE ratio of stock for trailing 12 months is 8.61, while it has posted earnings per share of $5.30 in the same period. It has a debt-to-equity ratio of 0.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CASH, volatility over the week remained 1.93% while standing at 2.27% over the month.
Analysts are in expectations that Pathward Financial Inc. (CASH) stock would likely to be making an EPS of $0.75 in the current quarter, while forecast for next quarter EPS is $2.19 and it is $6.25 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.73 which is $0.77 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 20.20% while it is estimated to increase by 14.36% in next year.
Analysts at 2 brokerage firms have issued recommendations for the Pathward Financial Inc. (CASH)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Keefe Bruyette on July 28, 2022 offering a Mkt perform rating for the stock and assigned a target price range of between $67 and $45 to it. Coverage by Raymond James stated Pathward Financial Inc. (CASH) stock as an Outperform in their note to investors on July 07, 2022, suggesting a price target of $46 for the stock. On October 29, 2020, Keefe Bruyette Upgrade their recommendations, while on August 23, 2019, B. Riley FBR Reiterated their ratings for the stock with a price target of $38. Stock get a Buy rating from B. Riley FBR on April 26, 2019.
