Pathward Financial, Inc. (NASDAQ:CASH) Holdings Raised by State Street Corp

State Street Corp boosted its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 1.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,274,851 shares of the savings and loans company’s stock after acquiring an additional 17,004 shares during the quarter. State Street Corp owned approximately 0.05% of Pathward Financial worth $84,218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in Pathward Financial in the 3rd quarter worth approximately $476,000. Foundry Partners LLC lifted its position in Pathward Financial by 59.3% in the 3rd quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company’s stock worth $8,678,000 after buying an additional 48,917 shares in the last quarter. Algert Global LLC lifted its position in Pathward Financial by 83.1% in the 2nd quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock worth $4,547,000 after buying an additional 36,475 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Pathward Financial by 65.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 44,047 shares of the savings and loans company’s stock worth $2,908,000 after buying an additional 17,431 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Pathward Financial by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock worth $724,000 after buying an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Stock Performance

Shares of CASH opened at $82.44 on Tuesday. The company’s fifty day moving average is $77.39 and its 200-day moving average is $67.34. Pathward Financial, Inc. has a 12 month low of $46.68 and a 12 month high of $86.00. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 12.34 and a beta of 0.69. 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 (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, beating analysts’ consensus estimates of $1.27 by $0.08. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The business had revenue of $167.90 million for the quarter, compared to analyst estimates of $167.20 million. During the same period last year, the business posted $1.36 EPS. Pathward Financial’s revenue was up 4.4% compared to the same quarter last year. Equities analysts expect that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their price target on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Insider Activity at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the transaction, the chief financial officer now directly owns 9,644 shares in the company, valued at approximately $777,306.40. This trade represents a 18.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by company insiders.

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.