Fmr LLC Has $135.47 Million Stake in Pathward Financial, Inc. (NASDAQ:CASH)

FMR LLC raised its holdings in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,052,287 shares of the savings and loans company's stock after purchasing an additional 132,067 shares during the period. FMR LLC owned about 8.22% of Pathward Financial worth $135,471,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in Pathward Financial by 103.3% in the second quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company's stock worth $8,437,000 after acquiring an additional 75,792 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Pathward Financial in the 3rd quarter valued at about $476,000. Foundry Partners LLC lifted its position in shares of Pathward Financial by 59.3% during the 3rd quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company's stock worth $8,678,000 after purchasing an additional 48,917 shares during the last quarter. Algert Global LLC boosted its position in shares of Pathward Financial by 83.1% during the 2nd quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company's stock worth $4,547,000 after acquiring an additional 36,475 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Pathward Financial by 2.5% during 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 acquiring an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 92.66% of the company's stock.

Pathward Financial Price Performance

Shares of CASH traded up $0.70 during midday trading on Wednesday, reaching $83.68. The stock had a trading volume of 28,332 shares, compared to its average volume of 180,756. Pathward Financial, Inc. has a 52 week low of $46.68 and a 52 week high of $86.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63. The company has a market capitalization of $2.02 billion, a P/E ratio of 12.65 and a beta of 0.69. The firm's 50 day moving average price is $74.54 and its 200-day moving average price is $65.74.

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 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 during the quarter, compared to analyst estimates of $167.20 million. During the same period in the prior year, the firm earned $1.36 earnings per share. The firm's revenue was up 4.4% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 0.24%. The ex-dividend date of this dividend is Tuesday, December 10th. Pathward Financial's payout ratio is presently 3.02%.

Analysts Set New Price Targets

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

Insider Activity at Pathward Financial

In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the firm's 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 sale, the director now owns 19,531 shares in the company, valued at approximately $1,267,757.21. This trade represents a 9.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Greg Sigrist sold 2,250 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $80.60, for a total value of $181,350.00. Following the sale, the chief financial officer now directly owns 9,644 shares of the company's stock, valued at $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,350 shares of company stock worth $517,010. 0.72% of the stock is owned by corporate insiders.

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.