Los Angeles Capital Management LLC Purchases New Position in Pathward Financial, Inc. (NASDAQ:CASH)

Los Angeles Capital Management LLC acquired a new stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 7,214 shares of the savings and loans company’s stock, valued at approximately $476,000.

A number of other institutional investors have also recently bought and sold shares of CASH. Opal Wealth Advisors LLC acquired a new position in shares of Pathward Financial in the 2nd quarter valued at $25,000. Quarry LP grew its stake in Pathward Financial by 419.0% in the second quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after acquiring an additional 419 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Pathward Financial in the third quarter worth about $29,000. Gladius Capital Management LP bought a new stake in shares of Pathward Financial in the second quarter worth about $31,000. Finally, USA Financial Formulas bought a new position in shares of Pathward Financial during the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Insider Buying and Selling at Pathward Financial

In related news, Director Douglas J. Hajek sold 2,000 shares of the 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 of the company’s stock, valued at approximately $1,267,757.21. This represents a 9.29 % 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 business’s 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 transaction, the president now directly owns 30,046 shares in the company, valued at $1,995,054.40. This trade represents a 9.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,350 shares of company stock worth $517,010. Insiders own 0.72% of the company’s stock.

Pathward Financial Stock Performance

Shares of Pathward Financial stock opened at $79.63 on Friday. 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 cap of $1.99 billion, a price-to-earnings ratio of 12.01 and a beta of 0.67. The stock’s 50-day moving average is $70.83 and its 200-day moving average is $63.14. Pathward Financial, Inc. has a one year low of $46.68 and a one year high of $83.83.

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

Pathward Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Tuesday, September 10th. Pathward Financial’s dividend payout ratio (DPR) is currently 3.02%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CASH shares. Piper Sandler increased their target price on Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their price objective on shares of Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th.

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.