Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC reduced its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 21.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,646 shares of the savings and loans company's stock after selling 13,171 shares during the quarter. NFJ Investment Group LLC owned approximately 0.19% of Pathward Financial worth $3,211,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CASH. Price T Rowe Associates Inc. MD grew its holdings in shares of Pathward Financial by 11.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,180 shares of the savings and loans company's stock worth $464,000 after purchasing an additional 963 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Pathward Financial by 5.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,419 shares of the savings and loans company's stock valued at $420,000 after acquiring an additional 397 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Pathward Financial in the 2nd quarter valued at about $25,000. SG Americas Securities LLC raised its position in Pathward Financial by 134.1% in the 2nd quarter. SG Americas Securities LLC now owns 7,551 shares of the savings and loans company's stock valued at $427,000 after purchasing an additional 4,326 shares in the last quarter. Finally, Diversified Trust Co raised its position in Pathward Financial by 5.0% in the 2nd quarter. Diversified Trust Co now owns 8,167 shares of the savings and loans company's stock valued at $462,000 after purchasing an additional 390 shares in the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Greg Sigrist sold 2,250 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $80.60, for a total transaction of $181,350.00. Following the transaction, the chief financial officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Douglas J. Hajek sold 2,000 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total value of $129,820.00. Following the transaction, the director now directly owns 19,531 shares in the company, valued at $1,267,757.21. This represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,350 shares of company stock valued at $517,010. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

CASH has been the topic of several research analyst reports. Piper Sandler raised 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. Keefe, Bruyette & Woods raised their target price on Pathward Financial from $76.00 to $90.00 and gave the stock a "market perform" rating in a research report on Wednesday.

Pathward Financial Stock Performance

NASDAQ CASH traded up $1.12 on Wednesday, reaching $84.10. The stock had a trading volume of 46,444 shares, compared to its average volume of 180,835. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00. The business's 50-day moving average price is $74.54 and its 200 day moving average price is $65.74. The stock has a market cap of $2.03 billion, a P/E ratio of 12.65 and a beta of 0.69.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, beating 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 company had revenue of $167.90 million during the quarter, compared to analysts' expectations of $167.20 million. During the same quarter in the previous year, the business earned $1.36 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Pathward Financial, Inc. will post 7.05 earnings per share for the current year.

Pathward Financial Announces Dividend

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