BNP Paribas Financial Markets Increases Stock Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

BNP Paribas Financial Markets raised its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 65.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,047 shares of the savings and loans company's stock after acquiring an additional 17,431 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.18% of Pathward Financial worth $2,908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in shares of Pathward Financial in the 2nd quarter worth approximately $25,000. Quarry LP raised its position in Pathward Financial by 419.0% in the second quarter. Quarry LP now owns 519 shares of the savings and loans company's stock worth $29,000 after acquiring an additional 419 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Pathward Financial during the 3rd quarter valued at $29,000. Gladius Capital Management LP bought a new position in Pathward Financial in the 2nd quarter worth $31,000. Finally, USA Financial Formulas purchased a new position in Pathward Financial during the third quarter valued at $56,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CASH. Piper Sandler upped their price target on Pathward Financial from $75.00 to $82.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a "market perform" rating in a report on Wednesday.

Pathward Financial Price Performance

Pathward Financial stock traded up $1.06 during mid-day trading on Friday, hitting $84.60. The stock had a trading volume of 147,345 shares, compared to its average volume of 180,744. Pathward Financial, Inc. has a one year low of $46.68 and a one year high of $86.00. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.04 billion, a P/E ratio of 12.76 and a beta of 0.69. The firm's 50 day moving average is $75.71 and its 200 day moving average is $66.20.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. 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 company posted $1.36 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

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

Insider Activity

In related news, President Anthony M. Sharett sold 3,100 shares of the firm's 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 completion of the transaction, the president now directly owns 30,046 shares of the company's stock, valued at approximately $1,995,054.40. This trade represents a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Douglas J. Hajek sold 2,000 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the sale, the director now owns 19,531 shares in the company, valued at approximately $1,267,757.21. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,350 shares of company stock worth $517,010 over the last quarter. Insiders own 0.72% of the company's stock.

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.