Fmr LLC Increases Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Fmr LLC lifted its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,052,287 shares of the savings and loans company’s stock after purchasing an additional 132,067 shares during the period. Fmr LLC owned about 0.08% of Pathward Financial worth $135,471,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CASH. Dynamic Technology Lab Private Ltd purchased a new position in Pathward Financial during the third quarter worth $718,000. Algert Global LLC increased its position in Pathward Financial by 41.2% during the 3rd quarter. Algert Global LLC now owns 113,484 shares of the savings and loans company’s stock worth $7,491,000 after purchasing an additional 33,108 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Pathward Financial by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,413 shares of the savings and loans company’s stock valued at $21,679,000 after purchasing an additional 1,733 shares during the last quarter. Foundry Partners LLC raised its stake in Pathward Financial by 59.3% in the 3rd quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company’s stock valued at $8,678,000 after purchasing an additional 48,917 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Pathward Financial by 5.3% in the 3rd quarter. Intech Investment Management LLC now owns 11,453 shares of the savings and loans company’s stock valued at $756,000 after purchasing an additional 579 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Price Performance

CASH stock opened at $82.98 on Wednesday. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 12.52 and a beta of 0.69. 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 52-week low of $46.68 and a 52-week high of $86.00. The stock’s fifty day simple moving average is $74.54 and its 200-day simple moving average is $65.74.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The firm had revenue of $167.90 million for the quarter, compared to analyst estimates of $167.20 million. During the same period last year, the company earned $1.36 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Pathward Financial, Inc. will post 7.05 EPS for the current year.

Pathward Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Tuesday, December 10th. Pathward Financial’s dividend payout ratio (DPR) is 3.02%.

Insider Buying and Selling

In related news, Director Douglas J. Hajek sold 2,000 shares of Pathward Financial stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total value of $129,820.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.40, for a total value of $205,840.00. Following the sale, the president now owns 30,046 shares of the company’s stock, valued at $1,995,054.40. This represents a 9.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,350 shares of company stock valued at $517,010. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

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 research report on Thursday, October 24th.

Pathward Financial 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.