Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 4.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 373,907 shares of the savings and loans company’s stock after selling 17,668 shares during the period. JPMorgan Chase & Co.’s holdings in Pathward Financial were worth $24,682,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP lifted 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 worth $29,000 after buying an additional 419 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Pathward Financial during the 3rd quarter worth $29,000. Point72 DIFC Ltd purchased a new stake in Pathward Financial in the third quarter valued at $35,000. USA Financial Formulas acquired a new position in Pathward Financial in the third quarter valued at $56,000. Finally, nVerses Capital LLC purchased a new position in shares of Pathward Financial during the third quarter worth about $79,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Price Performance

CASH stock opened at $74.48 on Thursday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 11.23 and a beta of 0.72. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $78.51 and a 200-day moving average of $69.90. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00.

Pathward Financial (NASDAQ:CASH) last posted its 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 firm had revenue of $167.90 million for the quarter, compared to analyst estimates of $167.20 million. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. Pathward Financial’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. As a group, equities analysts expect that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Tuesday, December 10th. Pathward Financial’s dividend payout ratio is currently 3.02%.

Analysts Set New Price Targets

CASH has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler upped their price target 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.

Insider Buying and Selling at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.60, for a total transaction of $181,350.00. Following the completion of the sale, the chief financial officer now owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. This represents a 18.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

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.