Principal Financial Group Inc. Sells 7,036 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Principal Financial Group Inc. decreased its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 5.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 117,915 shares of the savings and loans company's stock after selling 7,036 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Pathward Financial worth $7,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP grew its position in shares of Pathward Financial by 419.0% during the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company's stock valued at $29,000 after acquiring an additional 419 shares during the period. Financial Management Professionals Inc. bought a new stake in Pathward Financial during the third quarter valued at about $29,000. Point72 DIFC Ltd purchased a new stake in Pathward Financial in the third quarter worth about $35,000. USA Financial Formulas purchased a new stake in Pathward Financial in the third quarter worth about $56,000. Finally, nVerses Capital LLC bought a new position in shares of Pathward Financial in the third quarter worth about $79,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of Pathward Financial stock in a transaction that occurred 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 sale, the chief financial officer now owns 9,644 shares of the company's stock, valued at $777,306.40. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by insiders.

Pathward Financial Price Performance

Shares of NASDAQ CASH traded down $0.67 during mid-day trading on Wednesday, reaching $73.58. The company's stock had a trading volume of 132,541 shares, compared to its average volume of 184,141. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63. Pathward Financial, Inc. has a 52 week low of $46.68 and a 52 week high of $86.00. The stock has a fifty day moving average of $78.19 and a two-hundred day moving average of $69.23. The firm has a market capitalization of $1.77 billion, a PE ratio of 11.10 and a beta of 0.69.

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 for the quarter, topping the consensus estimate of $1.27 by $0.08. The business had revenue of $167.90 million during the quarter, compared to the consensus estimate of $167.20 million. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. As a group, sell-side analysts anticipate that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.20 annualized dividend and a yield of 0.27%. Pathward Financial's payout ratio is 3.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler raised their price objective on shares of Pathward Financial from $82.00 to $94.00 and gave the company an "overweight" rating in a research report on Monday, December 23rd.

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.