Allspring Global Investments Holdings LLC Raises Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Allspring Global Investments Holdings LLC raised its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 11.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,498 shares of the savings and loans company’s stock after buying an additional 556 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pathward Financial were worth $278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SummerHaven Investment Management LLC increased its holdings in Pathward Financial by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 14,259 shares of the savings and loans company’s stock worth $755,000 after acquiring an additional 208 shares during the period. Diversified Trust Co increased its holdings in shares of Pathward Financial by 4.1% in the first quarter. Diversified Trust Co now owns 7,777 shares of the savings and loans company’s stock worth $393,000 after purchasing an additional 305 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of Pathward Financial by 10.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,843 shares of the savings and loans company’s stock worth $256,000 after buying an additional 441 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Pathward Financial by 24.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock worth $134,000 after buying an additional 500 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Pathward Financial by 0.4% during the fourth quarter. Panagora Asset Management Inc. now owns 163,151 shares of the savings and loans company’s stock valued at $8,636,000 after buying an additional 592 shares during the period. 92.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pathward Financial

In related news, Director Kendall E. Stork sold 2,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $53.53, for a total transaction of $107,060.00. Following the completion of the sale, the director now directly owns 11,213 shares in the company, valued at approximately $600,231.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Pathward Financial Price Performance

Shares of NASDAQ:CASH opened at $58.16 on Thursday. The company’s fifty day moving average price is $54.64 and its 200-day moving average price is $52.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.73 and a beta of 0.68. Pathward Financial, Inc. has a one year low of $41.79 and a one year high of $60.49.

Pathward Financial (NASDAQ:CASH) last announced its earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.19. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The company had revenue of $247.25 million during the quarter, compared to analyst estimates of $240.46 million. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Pathward Financial, Inc. will post 6.47 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Tuesday, June 11th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.34%. The ex-dividend date was Tuesday, June 11th. Pathward Financial’s dividend payout ratio is currently 3.00%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price target on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, April 5th.

Pathward Financial Company 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.