Glenmede Trust Co. NA Buys 4,335 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Glenmede Trust Co. NA boosted its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 36.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,351 shares of the savings and loans company’s stock after acquiring an additional 4,335 shares during the period. Glenmede Trust Co. NA’s holdings in Pathward Financial were worth $1,079,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Pathward Financial during the second quarter worth about $25,000. Quarry LP boosted its holdings in Pathward Financial by 419.0% in the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock worth $29,000 after buying an additional 419 shares during the period. Financial Management Professionals Inc. purchased a new position in Pathward Financial in the 3rd quarter valued at approximately $29,000. Gladius Capital Management LP purchased a new position in Pathward Financial in the 2nd quarter valued at approximately $31,000. Finally, USA Financial Formulas purchased a new stake in shares of Pathward Financial during the third quarter worth $56,000. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $80.60, for a total transaction of $181,350.00. Following the sale, the chief financial officer now owns 9,644 shares in the company, valued at $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was 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 of the company’s stock, valued at $1,995,054.40. The trade was a 9.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,350 shares of company stock worth $517,010. 0.72% of the stock is currently owned by insiders.

Pathward Financial Trading Down 0.5 %

Shares of Pathward Financial stock opened at $83.44 on Tuesday. The company’s 50-day moving average price is $74.19 and its 200-day moving average price is $65.54. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 12.59 and a beta of 0.67.

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.08. The business had revenue of $167.90 million for the quarter, compared to analysts’ expectations of $167.20 million. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. On average, equities analysts expect that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid 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 yield of 0.24%. Pathward Financial’s dividend payout ratio is currently 3.02%.

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.