Russell Investments Group Ltd. lowered its position in Pathward Financial, Inc. (NASDAQ:CASH – Free Report) by 26.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,380 shares of the savings and loans company’s stock after selling 6,848 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Pathward Financial worth $978,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Kennicott Capital Management LLC acquired a new stake in shares of Pathward Financial in the 4th quarter worth approximately $35,000. Nisa Investment Advisors LLC lifted its stake in Pathward Financial by 24.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock valued at $134,000 after buying an additional 500 shares in the last quarter. Duality Advisers LP purchased a new stake in Pathward Financial in the 4th quarter valued at approximately $203,000. Carmel Capital Partners LLC lifted its stake in Pathward Financial by 523.4% in the 4th quarter. Carmel Capital Partners LLC now owns 4,831 shares of the savings and loans company’s stock valued at $256,000 after buying an additional 4,056 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Pathward Financial by 10.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,843 shares of the savings and loans company’s stock valued at $256,000 after buying an additional 441 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on CASH. Piper Sandler upped their target price on Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th.
Get Our Latest Analysis on CASH
Pathward Financial Trading Down 1.5 %
Shares of Pathward Financial stock opened at $67.68 on Tuesday. Pathward Financial, Inc. has a fifty-two week low of $41.79 and a fifty-two week high of $69.63. The firm has a market cap of $1.71 billion, a PE ratio of 10.16 and a beta of 0.68. The business’s fifty day moving average is $57.32 and its two-hundred day moving average is $53.23. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.04.
Pathward Financial (NASDAQ:CASH – Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Pathward Financial had a return on equity of 23.59% and a net margin of 22.10%. The company had revenue of $176.73 million for the quarter, compared to analyst estimates of $176.63 million. During the same quarter in the prior year, the company posted $1.76 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts anticipate that Pathward Financial, Inc. will post 6.6 earnings per share for the current year.
Pathward Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Tuesday, June 11th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Tuesday, June 11th. Pathward Financial’s dividend payout ratio is presently 3.00%.
Insider Transactions at Pathward Financial
In other news, Director Kendall E. Stork sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $53.53, for a total transaction of $107,060.00. Following the completion of the sale, the director now directly owns 11,213 shares in the company, valued at approximately $600,231.89. 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.
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