Barclays PLC Acquires 25,570 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Barclays PLC lifted its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 83.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,327 shares of the savings and loans company’s stock after purchasing an additional 25,570 shares during the period. Barclays PLC’s holdings in Pathward Financial were worth $3,718,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CASH. Los Angeles Capital Management LLC bought a new position in Pathward Financial during the third quarter worth about $476,000. Foundry Partners LLC raised its position in shares of Pathward Financial by 59.3% in the 3rd quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company’s stock valued at $8,678,000 after acquiring an additional 48,917 shares during the period. Algert Global LLC boosted its stake in Pathward Financial by 83.1% during the 2nd quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock worth $4,547,000 after acquiring an additional 36,475 shares during the last quarter. BNP Paribas Financial Markets grew its holdings 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 valued at $2,908,000 after purchasing an additional 17,431 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake 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 valued at $724,000 after purchasing an additional 315 shares in the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Price Performance

NASDAQ CASH opened at $73.62 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. Pathward Financial, Inc. has a 52-week low of $46.68 and a 52-week high of $86.00. The business has a 50 day simple moving average of $78.09 and a 200 day simple moving average of $68.18. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 11.10 and a beta of 0.69.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.08. The company had revenue of $167.90 million during the quarter, compared to the consensus estimate of $167.20 million. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Analysts anticipate that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

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 $0.05 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. Pathward Financial’s dividend payout ratio (DPR) is 3.02%.

Analyst Ratings Changes

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

Insider Transactions at Pathward Financial

In other news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by 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.