HighTower Advisors LLC Buys 393 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

HighTower Advisors LLC boosted its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,032 shares of the savings and loans company’s stock after acquiring an additional 393 shares during the period. HighTower Advisors LLC’s holdings in Pathward Financial were worth $397,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CASH. Point72 Asia Singapore Pte. Ltd. bought a new stake in Pathward Financial during the third quarter valued at $94,000. Martingale Asset Management L P lifted its stake in shares of Pathward Financial by 4.2% in the 3rd quarter. Martingale Asset Management L P now owns 27,599 shares of the savings and loans company’s stock valued at $1,822,000 after purchasing an additional 1,101 shares during the period. Vinva Investment Management Ltd boosted its position in shares of Pathward Financial by 13.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 104,508 shares of the savings and loans company’s stock valued at $6,899,000 after purchasing an additional 12,118 shares in the last quarter. Glenmede Trust Co. NA grew its stake in Pathward Financial by 36.1% during the third quarter. Glenmede Trust Co. NA now owns 16,351 shares of the savings and loans company’s stock worth $1,079,000 after purchasing an additional 4,335 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Pathward Financial by 65.5% during the third quarter. BNP Paribas Financial Markets now owns 44,047 shares of the savings and loans company’s stock worth $2,908,000 after purchasing an additional 17,431 shares during the period. 92.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CASH. Piper Sandler increased their price target on Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their target price on shares of Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Pathward Financial Stock Performance

Shares of Pathward Financial stock opened at $73.62 on Monday. The business has a 50-day simple moving average of $78.09 and a 200 day simple moving average of $68.18. Pathward Financial, Inc. has a one year low of $46.68 and a one year high of $86.00. 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 capitalization of $1.78 billion, a price-to-earnings ratio of 11.10 and a beta of 0.69.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings data 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. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The firm 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 quarterly revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.20 annualized dividend and a yield of 0.27%. Pathward Financial’s payout ratio is 3.02%.

Insider Buying and Selling at Pathward Financial

In other news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

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.