Thrivent Financial for Lutherans Lowers Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Thrivent Financial for Lutherans reduced its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 6.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,614 shares of the savings and loans company’s stock after selling 1,365 shares during the period. Thrivent Financial for Lutherans’ holdings in Pathward Financial were worth $1,295,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SummerHaven Investment Management LLC boosted its stake in shares of Pathward Financial by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock worth $833,000 after buying an additional 288 shares during 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 valued at $724,000 after acquiring an additional 315 shares during the period. Diversified Trust Co lifted its holdings in Pathward Financial by 5.0% in the second quarter. Diversified Trust Co now owns 8,167 shares of the savings and loans company’s stock valued at $462,000 after acquiring an additional 390 shares during the period. Harbor Capital Advisors Inc. boosted its position in Pathward Financial by 5.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,419 shares of the savings and loans company’s stock worth $420,000 after purchasing an additional 397 shares in the last quarter. Finally, Quarry LP grew its stake 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 worth $29,000 after purchasing an additional 419 shares during the period. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Insiders Place Their Bets

In other Pathward Financial news, President Anthony M. Sharett sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 directly owns 30,046 shares in the company, valued at approximately $1,995,054.40. The trade was a 9.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total value of $129,820.00. Following the transaction, the director now directly owns 19,531 shares of the company’s stock, 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. Over the last ninety days, insiders sold 7,350 shares of company stock worth $517,010. Company insiders own 0.72% of the company’s stock.

Pathward Financial Trading Down 0.7 %

CASH stock opened at $83.88 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 52-week low of $46.68 and a 52-week high of $86.00. The company’s 50-day simple moving average is $73.85 and its 200-day simple moving average is $65.25. The firm has a market cap of $2.02 billion, a P/E ratio of 12.65 and a beta of 0.67.

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

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Tuesday, December 10th. Pathward Financial’s payout ratio is presently 3.02%.

Analyst Ratings Changes

Separately, Piper Sandler boosted their target price on shares of Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research note 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.