Victory Capital Management Inc. Acquires 18,708 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Victory Capital Management Inc. increased its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 384.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,572 shares of the savings and loans company's stock after purchasing an additional 18,708 shares during the period. Victory Capital Management Inc. owned approximately 0.09% of Pathward Financial worth $1,556,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mawer Investment Management Ltd. bought a new stake in shares of Pathward Financial in the 2nd quarter worth $12,376,000. F M Investments LLC bought a new stake in Pathward Financial in the 2nd quarter worth about $10,784,000. American Century Companies Inc. raised its position in Pathward Financial by 20.4% in the 2nd quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company's stock worth $28,551,000 after buying an additional 85,566 shares during the last quarter. Foundry Partners LLC bought a new position in Pathward Financial during the 2nd quarter valued at about $4,669,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Pathward Financial by 103.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company's stock valued at $8,437,000 after acquiring an additional 75,792 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

Pathward Financial Stock Performance

Shares of CASH traded down $0.81 during trading hours on Tuesday, hitting $83.48. The stock had a trading volume of 119,170 shares, compared to its average volume of 180,859. The firm has a market capitalization of $2.09 billion, a PE ratio of 12.59 and a beta of 0.67. 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 12 month low of $46.68 and a 12 month high of $86.00. The stock has a fifty day moving average price of $72.88 and a 200 day moving average price of $64.69.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. Analysts anticipate that Pathward Financial, Inc. will post 7.05 EPS for the current year.

Pathward Financial Dividend Announcement

The firm 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 dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Tuesday, December 10th. Pathward Financial's dividend payout ratio is presently 3.02%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their price objective on shares of Pathward Financial from $75.00 to $82.00 and gave the company an "overweight" rating in a report on Thursday, October 24th.

Insider Activity

In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total transaction of $129,820.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Greg Sigrist sold 2,250 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 9,644 shares of the company's stock, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,350 shares of company stock valued at $517,010 in the last 90 days. Company insiders own 0.72% of the company's stock.

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.