Wealth Enhancement Advisory Services LLC Reduces Position in Pathward Financial, Inc. (NASDAQ:CASH)

Wealth Enhancement Advisory Services LLC lessened its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 290,009 shares of the savings and loans company’s stock after selling 39,039 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Pathward Financial were worth $19,143,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP boosted its stake in shares of Pathward Financial by 108.5% during the first quarter. GSA Capital Partners LLP now owns 32,878 shares of the savings and loans company’s stock valued at $1,660,000 after purchasing an additional 17,111 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of Pathward Financial by 7.8% during the first quarter. Epoch Investment Partners Inc. now owns 269,425 shares of the savings and loans company’s stock valued at $13,601,000 after acquiring an additional 19,539 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Pathward Financial by 103.3% during the second quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock valued at $8,437,000 after acquiring an additional 75,792 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Pathward Financial by 116.9% during the first quarter. BNP Paribas Financial Markets now owns 26,317 shares of the savings and loans company’s stock valued at $1,328,000 after acquiring an additional 14,181 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of Pathward Financial by 83.1% during the second quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock valued at $4,547,000 after acquiring an additional 36,475 shares in the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Price Performance

Shares of NASDAQ:CASH opened at $68.46 on Monday. Pathward Financial, Inc. has a 1-year low of $44.39 and a 1-year high of $75.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.73 and a quick ratio of 0.72. The business has a fifty day moving average price of $68.02 and a 200-day moving average price of $60.52. The company has a market capitalization of $1.73 billion, a PE ratio of 10.28 and a beta of 0.68.

Pathward Financial (NASDAQ:CASH) last issued its quarterly 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 return on equity of 23.59% and a net margin of 22.10%. The firm had revenue of $167.90 million during the quarter, compared to the consensus estimate of $167.20 million. During the same period last year, the company earned $1.36 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Pathward Financial, Inc. will post 6.54 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. Pathward Financial’s dividend payout ratio (DPR) is presently 3.00%.

Insider Activity at Pathward Financial

In related news, President Anthony M. Sharett sold 3,100 shares of the 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 sale, the president now directly owns 30,046 shares of the company’s stock, valued at $1,995,054.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the firm’s 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 transaction, the director now directly owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 30,046 shares in the company, valued at $1,995,054.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CASH has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Piper Sandler raised their price target on Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday.

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.