Pathward Financial, Inc. (NASDAQ:CASH) Holdings Lifted by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC boosted its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,271 shares of the savings and loans company’s stock after acquiring an additional 181 shares during the quarter. Pathward Financial comprises about 0.7% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 27th biggest holding. SummerHaven Investment Management LLC owned 0.06% of Pathward Financial worth $968,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Pathward Financial in the 4th quarter worth approximately $3,734,999,000. Natixis Advisors LLC bought a new stake in Pathward Financial during the fourth quarter worth approximately $1,739,000. Putney Financial Group LLC acquired a new position in Pathward Financial in the fourth quarter worth approximately $32,223,000. Raymond James Financial Inc. bought a new position in shares of Pathward Financial in the fourth quarter valued at $279,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Pathward Financial by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 120,731 shares of the savings and loans company’s stock valued at $8,883,000 after buying an additional 2,816 shares in the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Brett L. Pharr sold 10,365 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $78.07, for a total transaction of $809,195.55. Following the transaction, the chief executive officer now owns 69,750 shares of the company’s stock, valued at approximately $5,445,382.50. This represents a 12.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer W. Warren sold 1,667 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $77.97, for a total value of $129,975.99. Following the completion of the transaction, the chief accounting officer now directly owns 5,019 shares in the company, valued at $391,331.43. The trade was a 24.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,882 shares of company stock worth $1,403,123. 1.23% of the stock is owned by corporate insiders.

Pathward Financial Price Performance

CASH stock opened at $76.97 on Thursday. Pathward Financial, Inc. has a one year low of $51.98 and a one year high of $86.00. The firm has a 50-day moving average of $76.63 and a two-hundred day moving average of $76.95. The firm has a market capitalization of $1.84 billion, a PE ratio of 11.22 and a beta of 0.63. 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 issued its quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.71 by $0.40. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The business had revenue of $262.90 million during the quarter, compared to the consensus estimate of $256.30 million. During the same quarter in the prior year, the firm earned $2.56 EPS. On average, analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.26%. Pathward Financial’s dividend payout ratio (DPR) is presently 2.70%.

Analyst Ratings Changes

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

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.