Phocas Financial Corp. Decreases Stock Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Phocas Financial Corp. trimmed its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,307 shares of the savings and loans company's stock after selling 10,863 shares during the period. Phocas Financial Corp. owned about 0.70% of Pathward Financial worth $11,506,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in Pathward Financial during the third quarter valued at about $29,000. Opal Wealth Advisors LLC bought a new stake in shares of Pathward Financial in the 2nd quarter valued at approximately $25,000. Quarry LP boosted its stake in Pathward Financial by 419.0% during the second quarter. Quarry LP now owns 519 shares of the savings and loans company's stock worth $29,000 after buying an additional 419 shares during the period. Gladius Capital Management LP purchased a new position in shares of Pathward Financial during the 2nd quarter worth about $31,000. Finally, USA Financial Formulas bought a new position in shares of Pathward Financial during the third quarter valued at approximately $56,000. 92.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CASH shares. Piper Sandler upped their price target on shares of Pathward Financial from $75.00 to $82.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on shares of Pathward Financial from $58.00 to $67.00 and gave the company a "market perform" rating in a report on Thursday, July 25th.

Pathward Financial Stock Down 0.6 %

Shares of Pathward Financial stock traded down $0.46 on Tuesday, reaching $78.74. The stock had a trading volume of 71,159 shares, compared to its average volume of 180,923. The company has a 50 day moving average price of $71.06 and a 200 day moving average price of $63.51. The stock has a market capitalization of $1.97 billion, a P/E ratio of 11.98 and a beta of 0.67. 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, Inc. has a 1 year low of $46.68 and a 1 year high of $83.83.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its earnings results 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. 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 for the quarter, compared to analyst estimates of $167.20 million. During the same period in the prior year, the company posted $1.36 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Pathward Financial, Inc. will post 7.05 EPS for the current year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.05 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. Pathward Financial's dividend payout ratio is currently 3.02%.

Insider Transactions at Pathward Financial

In related news, President Anthony M. Sharett sold 3,100 shares of Pathward Financial stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the sale, the president now owns 30,046 shares of the company's stock, valued at $1,995,054.40. The trade was a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,350 shares of company stock worth $517,010. Company insiders own 0.72% of the company's stock.

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.