Quantbot Technologies LP Acquires 1,070 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Quantbot Technologies LP raised its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,571 shares of the savings and loans company’s stock after purchasing an additional 1,070 shares during the period. Quantbot Technologies LP’s holdings in Pathward Financial were worth $764,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CASH. Opal Wealth Advisors LLC acquired a new position in shares of Pathward Financial in the second quarter valued at approximately $25,000. Quarry LP grew 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 valued at $29,000 after buying an additional 419 shares in the last quarter. Financial Management Professionals Inc. bought a new position in Pathward Financial during the 3rd quarter worth $29,000. Gladius Capital Management LP bought a new stake in shares of Pathward Financial in the second quarter valued at about $31,000. Finally, USA Financial Formulas acquired a new position in shares of Pathward Financial in the third quarter valued at about $56,000. Institutional investors own 92.66% of the company’s stock.

Pathward Financial Price Performance

Shares of NASDAQ CASH opened at $83.44 on Tuesday. The business has a fifty day moving average price of $74.19 and a two-hundred day moving average price of $65.54. The stock has a market capitalization of $2.01 billion, a PE ratio of 12.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $86.00.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.08. The business had revenue of $167.90 million during 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%. Pathward Financial’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. As a group, equities analysts predict that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.20 annualized dividend and a yield of 0.24%. Pathward Financial’s dividend payout ratio is currently 3.02%.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the director now owns 19,531 shares of the company’s stock, valued at $1,267,757.21. This represents a 9.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction on 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 directly owns 9,644 shares in the company, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,350 shares of company stock worth $517,010 over the last three months. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

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

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.