Algert Global LLC Purchases 33,108 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Algert Global LLC raised its position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 41.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,484 shares of the savings and loans company's stock after buying an additional 33,108 shares during the quarter. Algert Global LLC owned 0.45% of Pathward Financial worth $7,491,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in Pathward Financial during the third quarter valued at $29,000. Opal Wealth Advisors LLC bought a new position in shares of Pathward Financial during the 2nd quarter valued at $25,000. Quarry LP lifted its stake in shares of 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 purchasing an additional 419 shares during the last quarter. Gladius Capital Management LP acquired a new stake in shares of Pathward Financial in the 2nd quarter valued at $31,000. Finally, USA Financial Formulas bought a new stake in Pathward Financial in the third quarter worth $56,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Insider Activity

In other Pathward Financial news, 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 value of $181,350.00. Following the transaction, the chief financial officer now owns 9,644 shares of the company's stock, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas J. Hajek sold 2,000 shares of Pathward Financial stock in a transaction dated 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 directly owns 19,531 shares of the company's stock, valued at $1,267,757.21. This represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,350 shares of company stock worth $517,010. Insiders own 0.72% of the company's stock.

Pathward Financial Stock Performance

NASDAQ:CASH traded up $2.12 during mid-day trading on Friday, hitting $82.90. 177,542 shares of the company's stock traded hands, compared to its average volume of 204,276. 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 $83.83. The firm has a 50 day moving average of $72.24 and a two-hundred day moving average of $64.20. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 12.50 and a beta of 0.67.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its quarterly 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. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The firm had revenue of $167.90 million during the quarter, compared to analyst estimates of $167.20 million. During the same quarter in the prior year, the business posted $1.36 earnings per share. The company's quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts forecast that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The company 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 dividend of $0.05 per share. 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 dividend payout ratio is currently 3.02%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their target price on Pathward Financial from $75.00 to $82.00 and gave the company an "overweight" rating in a report 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.