Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,100 shares of the savings and loans company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Pathward Financial were worth $799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its position in Pathward Financial by 1.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 14,900 shares of the savings and loans company’s stock worth $752,000 after acquiring an additional 212 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Pathward Financial by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock valued at $833,000 after purchasing an additional 288 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Pathward Financial by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock worth $724,000 after purchasing an additional 315 shares during the period. ProShare Advisors LLC grew its position in Pathward Financial by 7.1% in the 1st quarter. ProShare Advisors LLC now owns 5,247 shares of the savings and loans company’s stock valued at $265,000 after buying an additional 346 shares in the last quarter. Finally, Diversified Trust Co increased its stake in Pathward Financial by 5.0% during the 2nd quarter. Diversified Trust Co now owns 8,167 shares of the savings and loans company’s stock valued at $462,000 after buying an additional 390 shares during the period. 92.66% of the stock is owned by institutional investors.

Pathward Financial Price Performance

Shares of NASDAQ:CASH opened at $70.78 on Tuesday. The company has a market capitalization of $1.77 billion, a PE ratio of 10.68 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. The stock has a fifty day moving average of $68.68 and a 200-day moving average of $61.53. Pathward Financial, Inc. has a one year low of $46.64 and a one year high of $75.20.

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 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 analysts’ expectations of $167.20 million. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. Pathward Financial’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $1.36 EPS. As a group, equities analysts anticipate that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, September 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. Pathward Financial’s dividend payout ratio is currently 3.02%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler upped their price objective on Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted 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 related news, Director Douglas J. Hajek sold 2,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the transaction, the director now directly owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the sale, the director now directly owns 19,531 shares in the company, valued at approximately $1,267,757.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anthony M. Sharett sold 3,100 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $66.40, for a total value of $205,840.00. Following the completion of the transaction, the president now owns 30,046 shares in the company, valued at $1,995,054.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.