Public Sector Pension Investment Board Sells 2,600 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Public Sector Pension Investment Board cut its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 225,956 shares of the savings and loans company’s stock after selling 2,600 shares during the quarter. Public Sector Pension Investment Board owned 0.90% of Pathward Financial worth $14,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Pathward Financial during the 2nd quarter valued at approximately $25,000. Quarry LP grew its holdings in shares of Pathward Financial by 419.0% during the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after purchasing an additional 419 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Pathward Financial during the 3rd quarter valued at approximately $29,000. Gladius Capital Management LP bought a new stake in Pathward Financial during the 2nd quarter worth approximately $31,000. Finally, USA Financial Formulas bought a new stake in Pathward Financial during the 3rd quarter worth approximately $56,000. 92.66% of the stock is owned by institutional investors.

Pathward Financial Trading Up 1.2 %

CASH opened at $84.46 on Friday. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $86.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.74 and a beta of 0.67. The company’s 50 day moving average price is $73.52 and its two-hundred day moving average price is $64.97.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.08. The firm had revenue of $167.90 million for the quarter, compared to the consensus estimate of $167.20 million. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 EPS. As a group, research analysts predict that Pathward Financial, Inc. will post 7.05 earnings per share for the current year.

Pathward Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Pathward Financial’s dividend payout ratio (DPR) is currently 3.02%.

Insider Transactions at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 in the company, valued at $777,306.40. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas J. Hajek sold 2,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total transaction of $129,820.00. Following the transaction, the director now owns 19,531 shares in the company, valued at $1,267,757.21. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,350 shares of company stock worth $517,010. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their target price on shares of Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

Pathward Financial 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.