Orchard Capital Management LLC Lowers Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Orchard Capital Management LLC cut its position in Pathward Financial, Inc. (NASDAQ:CASH) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,463 shares of the savings and loans company’s stock after selling 2,540 shares during the quarter. Pathward Financial comprises 3.2% of Orchard Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Orchard Capital Management LLC’s holdings in Pathward Financial were worth $10,605,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Pathward Financial in the 2nd quarter worth approximately $25,000. Gladius Capital Management LP purchased a new stake in shares of Pathward Financial during the 2nd quarter valued at $31,000. EntryPoint Capital LLC purchased a new stake in shares of Pathward Financial during the 1st quarter valued at $59,000. Arbor Capital Management Inc. ADV purchased a new stake in shares of Pathward Financial during the 2nd quarter valued at $182,000. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Pathward Financial by 10.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,843 shares of the savings and loans company’s stock valued at $256,000 after buying an additional 441 shares in the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CASH. Keefe, Bruyette & Woods raised their price objective on shares of Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Piper Sandler raised their price objective on shares of Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th.

Pathward Financial Price Performance

CASH stock opened at $69.10 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.73. Pathward Financial, Inc. has a 52 week low of $41.79 and a 52 week high of $69.63. The firm’s fifty day moving average is $65.26 and its 200 day moving average is $56.93. The firm has a market cap of $1.75 billion, a P/E ratio of 10.38 and a beta of 0.68.

Pathward Financial (NASDAQ:CASH) last released its earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The company had revenue of $176.73 million for the quarter, compared to analyst estimates of $176.63 million. During the same quarter last year, the firm earned $1.76 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts predict that Pathward Financial, Inc. will post 6.87 earnings per share for the current year.

Pathward Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Tuesday, September 10th. Pathward Financial’s dividend payout ratio is currently 3.00%.

Insider Activity at Pathward Financial

In other Pathward Financial news, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $66.40, for a total value of $205,840.00. Following the sale, the president now owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total value of $129,820.00. Following the sale, the director now owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the sale, the president now directly owns 30,046 shares in the company, valued at approximately $1,995,054.40. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Pathward Financial Profile

Pathward Financial, Inc operates as the bank holding company for Pathward, National Association that provides various banking products and services in the United States. The company operates through three segments: Consumer, Commercial, and Corporate Services/Other. It offers demand deposit accounts, savings accounts, and money market savings accounts.