AdvisorShares Investments LLC Acquires New Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

AdvisorShares Investments LLC bought a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH) in the 4th quarter, HoldingsChannel reports. The fund bought 6,040 shares of the savings and loans company’s stock, valued at approximately $444,000.

Other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in shares of Pathward Financial by 302.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company’s stock worth $41,000 after purchasing an additional 414 shares during the period. Sterling Capital Management LLC grew its stake in shares of Pathward Financial by 726.8% in the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company’s stock valued at $43,000 after buying an additional 516 shares in the last quarter. KBC Group NV raised its holdings in shares of Pathward Financial by 45.8% in the 4th quarter. KBC Group NV now owns 1,417 shares of the savings and loans company’s stock valued at $104,000 after buying an additional 445 shares during the period. Bank of Montreal Can acquired a new position in Pathward Financial during the 4th quarter worth about $201,000. Finally, Pictet Asset Management Holding SA purchased a new position in Pathward Financial during the 4th quarter valued at about $210,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pathward Financial

In related news, Director Douglas J. Hajek sold 1,850 shares of Pathward Financial stock in a transaction on Friday, April 25th. The shares were sold at an average price of $79.26, for a total transaction of $146,631.00. Following the sale, the director now directly owns 19,631 shares in the company, valued at $1,555,953.06. This trade represents a 8.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett L. Pharr sold 10,365 shares of the company’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $78.07, for a total transaction of $809,195.55. Following the completion of the transaction, the chief executive officer now owns 69,750 shares of the company’s stock, valued at $5,445,382.50. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,882 shares of company stock valued at $1,085,803. Insiders own 1.23% of the company’s stock.

Pathward Financial Stock Up 0.7 %

Pathward Financial stock opened at $80.14 on Wednesday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 11.68 and a beta of 0.44. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a twelve month low of $50.00 and a twelve month high of $86.00. The stock’s fifty day simple moving average is $73.11 and its 200-day simple moving average is $76.15.

Pathward Financial (NASDAQ:CASH) last released its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.40. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The firm had revenue of $262.90 million for the quarter, compared to analyst estimates of $256.30 million. During the same period in the prior year, the firm earned $2.56 earnings per share. As a group, equities analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. Pathward Financial’s payout ratio is 2.70%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their price target on shares of Pathward Financial from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd.

Pathward Financial Company Profile

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.