Assenagon Asset Management S.A. Purchases New Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Assenagon Asset Management S.A. acquired a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 147,660 shares of the savings and loans company's stock, valued at approximately $10,865,000. Assenagon Asset Management S.A. owned about 0.61% of Pathward Financial as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP boosted its stake in shares of Pathward Financial by 419.0% in the second 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. purchased a new stake in Pathward Financial during the third quarter worth about $29,000. Point72 DIFC Ltd acquired a new position in Pathward Financial during the third quarter worth about $35,000. USA Financial Formulas purchased a new position in Pathward Financial in the third quarter valued at about $56,000. Finally, nVerses Capital LLC purchased a new stake in shares of Pathward Financial during the 3rd quarter worth approximately $79,000. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CASH shares. Keefe, Bruyette & Woods raised their price objective on Pathward Financial from $76.00 to $90.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler lifted their price target on Pathward Financial from $82.00 to $94.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd.

Insider Activity

In other news, CFO Greg Sigrist sold 2,250 shares of Pathward Financial stock in a transaction that occurred on Friday, November 8th. The shares were 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. Corporate insiders own 0.72% of the company's stock.

Pathward Financial Trading Up 1.1 %

Shares of CASH stock traded up $0.88 during trading hours on Friday, hitting $77.74. 146,728 shares of the company were exchanged, compared to its average volume of 199,698. Pathward Financial, Inc. has a 1 year low of $46.68 and a 1 year high of $86.00. The firm has a fifty day moving average of $78.66 and a 200 day moving average of $70.86. The firm has a market cap of $1.88 billion, a PE ratio of 11.73 and a beta of 0.72. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.08. The company 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%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 EPS. Analysts expect that Pathward Financial, Inc. will post 7.29 earnings per share for the current year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.26%. Pathward Financial's dividend payout ratio (DPR) is 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.