Stifel Financial Corp Has $502,000 Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Stifel Financial Corp reduced its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 20.1% during the 3rd quarter, Holdings Channel reports. The firm owned 7,612 shares of the savings and loans company’s stock after selling 1,920 shares during the period. Stifel Financial Corp’s holdings in Pathward Financial were worth $502,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Quarry LP lifted its stake in Pathward Financial by 419.0% in the second quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after buying an additional 419 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Pathward Financial in the 3rd quarter valued at about $29,000. Point72 DIFC Ltd acquired a new stake in shares of Pathward Financial in the 3rd quarter valued at approximately $35,000. USA Financial Formulas bought a new position in Pathward Financial during the 3rd quarter worth approximately $56,000. Finally, nVerses Capital LLC acquired a new position in Pathward Financial during the third quarter valued at approximately $79,000. 92.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction dated 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 directly owns 9,644 shares in the company, valued at $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Piper Sandler increased their target price on shares of Pathward Financial from $82.00 to $94.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods upped their price objective on shares of Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Pathward Financial Trading Up 0.5 %

NASDAQ:CASH opened at $75.22 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63. The business’s 50-day simple moving average is $78.14 and its 200-day simple moving average is $68.51. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $86.00. The stock has a market capitalization of $1.81 billion, a PE ratio of 11.35 and a beta of 0.69.

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

Pathward Financial Announces Dividend

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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Tuesday, December 10th. Pathward Financial’s payout ratio is presently 3.02%.

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.