Pathward Financial, Inc. (NASDAQ:CASH) Stake Lessened by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,783 shares of the savings and loans company’s stock after selling 4,562 shares during the quarter. Pathstone Holdings LLC’s holdings in Pathward Financial were worth $2,164,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC boosted its holdings in Pathward Financial by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock worth $833,000 after purchasing an additional 288 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Pathward Financial by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock worth $724,000 after purchasing an additional 315 shares during the period. Diversified Trust Co boosted its holdings in Pathward Financial by 5.0% in the second quarter. Diversified Trust Co now owns 8,167 shares of the savings and loans company’s stock worth $462,000 after purchasing an additional 390 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Pathward Financial by 5.7% in the second quarter. Harbor Capital Advisors Inc. now owns 7,419 shares of the savings and loans company’s stock worth $420,000 after purchasing an additional 397 shares during the period. Finally, Quarry LP boosted its holdings in Pathward Financial by 419.0% in the second quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock worth $29,000 after purchasing an additional 419 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price objective on shares of Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

Insider Buying and Selling

In related news, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 owns 30,046 shares of the company’s stock, valued at $1,995,054.40. This represents a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Greg Sigrist sold 2,250 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was 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 directly owns 9,644 shares of the company’s stock, valued at $777,306.40. The trade was a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,350 shares of company stock valued at $517,010 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

Pathward Financial Stock Performance

Shares of CASH opened at $83.48 on Wednesday. Pathward Financial, Inc. has a 1 year low of $46.68 and a 1 year high of $86.00. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 12.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. The firm has a fifty day moving average of $72.88 and a 200-day moving average of $64.69.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) 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 company had revenue of $167.90 million during the quarter, compared to the consensus estimate of $167.20 million. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Pathward Financial, Inc. will post 7.05 earnings per share for the current year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Tuesday, December 10th. Pathward Financial’s dividend payout ratio (DPR) is 3.02%.

Pathward Financial 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.