State Street Corp raised its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,274,851 shares of the savings and loans company's stock after buying an additional 17,004 shares during the period. State Street Corp owned about 5.10% of Pathward Financial worth $84,218,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC raised its holdings 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 worth $427,000 after purchasing an additional 4,326 shares during the period. RMR Wealth Builders purchased a new position in shares of Pathward Financial during the 2nd quarter valued at approximately $758,000. SummerHaven Investment Management LLC grew its stake in Pathward Financial by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company's stock valued at $833,000 after acquiring an additional 288 shares during the period. Allspring Global Investments Holdings LLC raised its position in Pathward Financial by 36.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,480 shares of the savings and loans company's stock worth $423,000 after acquiring an additional 1,982 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Pathward Financial by 5.8% during the second quarter. Panagora Asset Management Inc. now owns 164,196 shares of the savings and loans company's stock valued at $9,289,000 after purchasing an additional 8,953 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company's stock.
Insider Activity
In other 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 value 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 position. The sale 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.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Pathward Financial from $75.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on Pathward Financial from $76.00 to $90.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th.
View Our Latest Analysis on CASH
Pathward Financial Price Performance
Shares of CASH stock traded down $2.14 during trading hours on Tuesday, reaching $80.30. The company had a trading volume of 287,606 shares, compared to its average volume of 181,923. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 12.43 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. The stock has a fifty day moving average of $77.70 and a 200-day moving average of $67.55.
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 EPS for the quarter, topping the consensus estimate of $1.27 by $0.08. The business had revenue of $167.90 million for the quarter, compared to analyst estimates of $167.20 million. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 EPS. On average, equities analysts anticipate that Pathward Financial, Inc. will post 7.05 earnings per share for the current year.
Pathward Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Pathward Financial's dividend payout ratio (DPR) is 3.02%.
About Pathward Financial
(
Free Report)
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.
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