Pathward Financial, Inc. (NASDAQ:CASH) Position Reduced by Nantahala Capital Management LLC

Nantahala Capital Management LLC reduced its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 47.0% during the second quarter, Holdings Channel.com reports. The fund owned 541,433 shares of the savings and loans company’s stock after selling 480,294 shares during the quarter. Pathward Financial makes up 1.8% of Nantahala Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Nantahala Capital Management LLC’s holdings in Pathward Financial were worth $30,629,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in Pathward Financial by 4.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,583,602 shares of the savings and loans company’s stock worth $83,820,000 after purchasing an additional 69,374 shares in the last quarter. American Century Companies Inc. grew its holdings in Pathward Financial by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock worth $28,551,000 after acquiring an additional 85,566 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Pathward Financial during the 1st quarter valued at about $17,819,000. Epoch Investment Partners Inc. lifted its position in shares of Pathward Financial by 7.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 269,425 shares of the savings and loans company’s stock worth $13,601,000 after purchasing an additional 19,539 shares during the period. Finally, Mawer Investment Management Ltd. bought a new position in shares of Pathward Financial during the second quarter valued at approximately $12,376,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CASH. Piper Sandler lifted their price target on Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th.

Insider Activity

In other news, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $66.40, for a total transaction of $205,840.00. Following the sale, the president now directly owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of Pathward Financial 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 sale, the director now owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the sale, the president now owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Pathward Financial Trading Up 1.2 %

Pathward Financial stock opened at $66.01 on Tuesday. The stock has a 50-day moving average price of $65.62 and a 200 day moving average price of $57.66. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 9.91 and a beta of 0.68. 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, Inc. has a 52 week low of $41.79 and a 52 week high of $69.63.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings data on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share for the quarter, beating 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 business had revenue of $176.73 million during the quarter, compared to analyst estimates of $176.63 million. During the same quarter last year, the business posted $1.76 EPS. The company’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Pathward Financial, Inc. will post 6.87 EPS for the current year.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a $0.05 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.20 annualized dividend and a yield of 0.30%. Pathward Financial’s dividend payout ratio is presently 3.00%.

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.