Principal Financial Group Inc. Reduces Position in Pathward Financial, Inc. (NASDAQ:CASH)

Principal Financial Group Inc. cut its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 117,915 shares of the savings and loans company's stock after selling 7,036 shares during the period. Principal Financial Group Inc. owned about 0.47% of Pathward Financial worth $7,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rosenthal Henry Capital Advisors Inc. raised its position in Pathward Financial by 1.3% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 54,849 shares of the savings and loans company's stock worth $3,621,000 after acquiring an additional 700 shares during the period. US Bancorp DE increased its position in Pathward Financial by 39.5% in the third quarter. US Bancorp DE now owns 8,896 shares of the savings and loans company's stock worth $587,000 after buying an additional 2,518 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Pathward Financial by 6.7% in the third quarter. New York State Teachers Retirement System now owns 29,475 shares of the savings and loans company's stock worth $1,946,000 after buying an additional 1,855 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Pathward Financial during the 3rd quarter valued at about $29,000. Finally, Moody Aldrich Partners LLC grew its stake in shares of Pathward Financial by 31.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 124,117 shares of the savings and loans company's stock valued at $8,193,000 after acquiring an additional 29,876 shares during the period. 92.66% of the stock is owned by institutional investors.

Insider Transactions at Pathward Financial

In other news, CFO Greg Sigrist sold 2,250 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the completion of the sale, the chief financial officer now owns 9,644 shares in the company, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the business's stock in a transaction dated Friday, September 13th. The shares were 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 approximately $1,995,054.40. This represents a 9.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,350 shares of company stock worth $517,010. 0.72% of the stock is currently owned by insiders.

Pathward Financial Trading Down 0.3 %

NASDAQ CASH traded down $0.20 during trading hours on Wednesday, hitting $78.77. 52,195 shares of the company were exchanged, compared to its average volume of 180,632. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $71.32 and a 200 day moving average price of $63.70. The stock has a market cap of $1.97 billion, a PE ratio of 11.91 and a beta of 0.67. Pathward Financial, Inc. has a 52 week low of $46.68 and a 52 week high of $83.83.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.08. The firm had revenue of $167.90 million during the quarter, compared to analyst estimates of $167.20 million. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The business's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. 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 announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders 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 annualized dividend and a dividend yield of 0.25%. Pathward Financial's dividend payout ratio (DPR) is presently 3.02%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price objective 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 upped their target price on shares of Pathward Financial from $58.00 to $67.00 and gave the stock a "market perform" rating in a research report on Thursday, July 25th.

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.