Algert Global LLC Increases Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Algert Global LLC lifted its position in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 83.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,376 shares of the savings and loans company’s stock after buying an additional 36,475 shares during the period. Algert Global LLC owned about 0.32% of Pathward Financial worth $4,547,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC grew its position in shares of Pathward Financial by 5.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 22,768 shares of the savings and loans company’s stock worth $1,288,000 after buying an additional 1,237 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Pathward Financial by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock valued at $724,000 after buying an additional 315 shares during the last quarter. Elgethun Capital Management raised its stake in Pathward Financial by 1.9% during the second quarter. Elgethun Capital Management now owns 193,747 shares of the savings and loans company’s stock valued at $10,960,000 after buying an additional 3,681 shares during the last quarter. AQR Capital Management LLC raised its stake in Pathward Financial by 146.2% during the second quarter. AQR Capital Management LLC now owns 9,939 shares of the savings and loans company’s stock valued at $562,000 after buying an additional 5,902 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in Pathward Financial by 11.1% during the second quarter. Squarepoint Ops LLC now owns 16,270 shares of the savings and loans company’s stock valued at $920,000 after buying an additional 1,621 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

Pathward Financial Stock Performance

NASDAQ CASH opened at $65.20 on Monday. The business has a 50-day moving average price of $65.62 and a 200-day moving average price of $57.59. Pathward Financial, Inc. has a twelve month low of $41.79 and a twelve month high of $69.63. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 9.79 and a beta of 0.68. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. Pathward Financial had a return on equity of 23.59% and a net margin of 22.10%. The firm had revenue of $176.73 million for the quarter, compared to the consensus estimate of $176.63 million. During the same period in the prior year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts predict that Pathward Financial, Inc. will post 6.87 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, September 10th. Pathward Financial’s dividend payout ratio (DPR) is currently 3.00%.

Analyst Ratings Changes

CASH has been the subject of several recent analyst reports. Piper Sandler boosted their price target on Pathward Financial from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their price objective on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th.

Insider Activity at Pathward Financial

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

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.