Wedge Capital Management L L P NC Trims Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Wedge Capital Management L L P NC reduced its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,488 shares of the savings and loans company’s stock after selling 905 shares during the quarter. Wedge Capital Management L L P NC owned 0.05% of Pathward Financial worth $919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP increased its position in shares of 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 buying an additional 419 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Pathward Financial in the third quarter valued at approximately $29,000. Point72 DIFC Ltd purchased a new stake in shares of Pathward Financial in the third quarter valued at approximately $35,000. USA Financial Formulas purchased a new stake in shares of Pathward Financial in the third quarter valued at approximately $56,000. Finally, nVerses Capital LLC purchased a new stake in shares of Pathward Financial in the third quarter valued at approximately $79,000. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CASH has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on Pathward Financial from $82.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods boosted their price target on Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Pathward Financial Stock Up 1.1 %

Shares of CASH opened at $77.74 on Tuesday. 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 one year low of $46.68 and a one year high of $86.00. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 11.73 and a beta of 0.72. The stock has a 50 day moving average price of $78.58 and a 200 day moving average price of $71.10.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, topping 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 analysts’ expectations of $167.20 million. During the same period in the previous year, the business earned $1.36 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts forecast that Pathward Financial, Inc. will post 7.29 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Tuesday, December 10th. Pathward Financial’s dividend payout ratio (DPR) is currently 3.02%.

Insiders Place Their Bets

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of the business’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 approximately $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by corporate 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.