AQR Capital Management LLC Grows Stake in Pathward Financial, Inc. (NASDAQ:CASH)

AQR Capital Management LLC lifted its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 146.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,939 shares of the savings and loans company’s stock after buying an additional 5,902 shares during the quarter. AQR Capital Management LLC’s holdings in Pathward Financial were worth $562,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Pathward Financial in the 2nd quarter worth approximately $25,000. Gladius Capital Management LP purchased a new position in Pathward Financial in the 2nd quarter worth $31,000. EntryPoint Capital LLC purchased a new position in shares of Pathward Financial in the first quarter valued at about $59,000. Arbor Capital Management Inc. ADV purchased a new position in shares of Pathward Financial in the second quarter valued at about $182,000. Finally, Virtu Financial LLC purchased a new position in shares of Pathward Financial in the fourth quarter valued at about $262,000. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Pathward Financial Stock Down 0.3 %

CASH opened at $73.74 on Tuesday. Pathward Financial, Inc. has a twelve month low of $41.79 and a twelve month high of $74.49. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 11.07 and a beta of 0.68. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $66.12 and a 200-day moving average price of $59.15.

Pathward Financial (NASDAQ:CASH) last announced its earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The business had revenue of $176.73 million during the quarter, compared to analysts’ expectations of $176.63 million. During the same period in the prior year, the company earned $1.76 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Equities research analysts forecast that Pathward Financial, Inc. will post 6.54 earnings per share for the current year.

Pathward Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a $0.05 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. Pathward Financial’s payout ratio is currently 3.00%.

Insider Buying and Selling

In related news, Director Douglas J. Hajek sold 2,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the transaction, the director now owns 19,531 shares in the company, valued at approximately $1,267,757.21. This 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 can be accessed through this hyperlink. In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the transaction, the director now owns 19,531 shares in the company, valued at $1,267,757.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $66.40, for a total transaction of $205,840.00. Following the transaction, the president now owns 30,046 shares of the company’s stock, 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. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods boosted 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.

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.