Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 117,915 shares of the savings and loans company’s stock after selling 7,036 shares during the quarter. Principal Financial Group Inc.’s holdings in Pathward Financial were worth $7,784,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mawer Investment Management Ltd. purchased a new position in Pathward Financial during the 2nd quarter worth approximately $12,376,000. FMR LLC lifted its stake in Pathward Financial by 6.9% in the third quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock valued at $135,471,000 after buying an additional 132,067 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Pathward Financial by 20.4% in the second quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock valued at $28,551,000 after acquiring an additional 85,566 shares during the period. Foundry Partners LLC purchased a new position in shares of Pathward Financial during the second quarter worth approximately $4,669,000. Finally, Marshall Wace LLP increased its holdings in shares of Pathward Financial by 321.9% in the 2nd quarter. Marshall Wace LLP now owns 93,127 shares of the savings and loans company’s stock valued at $5,268,000 after acquiring an additional 71,054 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CASH. Piper Sandler increased their price target on shares of Pathward Financial from $82.00 to $94.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods increased their target price on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Insider Activity at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $80.60, for a total transaction of $181,350.00. Following the transaction, the chief financial officer now owns 9,644 shares of the company’s stock, valued at $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by insiders.

Pathward Financial Trading Down 0.9 %

NASDAQ:CASH opened at $73.58 on Wednesday. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $78.18 and its 200-day simple moving average is $69.20. The firm has a market cap of $1.77 billion, a P/E ratio of 11.10 and a beta of 0.69.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $167.20 million. During the same period in the previous year, the company posted $1.36 EPS. Pathward Financial’s revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Pathward Financial, Inc. will post 7.05 EPS for the current year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 dividend payout ratio is currently 3.02%.

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.