Tidal Investments LLC Makes New Investment in Pathward Financial, Inc. (NASDAQ:CASH)

Tidal Investments LLC purchased a new stake in Pathward Financial, Inc. (NASDAQ:CASH) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,984 shares of the savings and loans company’s stock, valued at approximately $725,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Pathward Financial by 36.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,480 shares of the savings and loans company’s stock worth $423,000 after acquiring an additional 1,982 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Pathward Financial by 5.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 164,196 shares of the savings and loans company’s stock worth $9,289,000 after purchasing an additional 8,953 shares during the period. F M Investments LLC acquired a new stake in shares of Pathward Financial during the second quarter valued at about $10,784,000. Foundry Partners LLC purchased a new position in shares of Pathward Financial during the second quarter worth $4,669,000. Finally, Arbor Capital Management Inc. ADV purchased a new position in Pathward Financial during the 2nd quarter valued at about $182,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Insider Transactions at Pathward Financial

In other news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.60, for a total transaction of $181,350.00. Following the completion of the sale, the chief financial officer now owns 9,644 shares in the company, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Pathward Financial Price Performance

CASH stock opened at $73.62 on Friday. The business’s 50-day moving average is $78.09 and its two-hundred day moving average is $68.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63. The firm has a market capitalization of $1.78 billion, a P/E ratio of 11.10 and a beta of 0.69. Pathward Financial, Inc. has a 1 year low of $46.68 and a 1 year high of $86.00.

Pathward Financial (NASDAQ:CASH) last issued its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.08. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The firm had revenue of $167.90 million for the quarter, compared to analysts’ expectations of $167.20 million. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Tuesday, December 10th. Pathward Financial’s dividend payout ratio (DPR) is 3.02%.

About Pathward Financial

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.