Wealth Enhancement Advisory Services LLC Sells 61,309 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Wealth Enhancement Advisory Services LLC lowered its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 21.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,700 shares of the savings and loans company’s stock after selling 61,309 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.96% of Pathward Financial worth $16,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Pathward Financial by 302.2% in 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 holdings 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 worth $43,000 after acquiring an additional 516 shares during the period. KBC Group NV grew its holdings in shares of Pathward Financial by 45.8% in the fourth quarter. KBC Group NV now owns 1,417 shares of the savings and loans company’s stock worth $104,000 after acquiring an additional 445 shares during the period. Bank of Montreal Can purchased a new stake in Pathward Financial during the fourth quarter valued at $201,000. Finally, AXA S.A. bought a new position in Pathward Financial in the fourth quarter valued at about $203,000. 92.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price target on Pathward Financial from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd.

Insider Activity

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 transaction, the director now owns 19,631 shares in the company, valued at approximately $1,555,953.06. The trade was a 8.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett L. Pharr sold 10,365 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $78.07, for a total value of $809,195.55. Following the completion of the sale, the chief executive officer now owns 69,750 shares of the company’s stock, valued at $5,445,382.50. The trade was a 12.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,882 shares of company stock valued at $1,403,123 in the last ninety days. Corporate insiders own 1.23% of the company’s stock.

Pathward Financial Stock Up 0.1%

CASH opened at $78.11 on Friday. The firm’s 50 day simple moving average is $75.94 and its two-hundred day simple moving average is $77.13. The company has a market capitalization of $1.86 billion, a PE ratio of 11.39 and a beta of 0.64. Pathward Financial, Inc. has a 1-year low of $51.98 and a 1-year high of $86.00. 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 (NASDAQ:CASH) last announced its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.40. The company had revenue of $262.90 million for the quarter, compared to analysts’ expectations of $256.30 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. During the same period last year, the firm earned $2.56 EPS. As a group, equities analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.26%. Pathward Financial’s payout ratio is currently 2.70%.

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.