Public Sector Pension Investment Board Sells 2,600 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Public Sector Pension Investment Board lessened its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 1.1% in the third quarter, HoldingsChannel.com reports. The firm owned 225,956 shares of the savings and loans company’s stock after selling 2,600 shares during the period. Public Sector Pension Investment Board’s holdings in Pathward Financial were worth $14,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CASH. CANADA LIFE ASSURANCE Co increased its stake in Pathward Financial by 4.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,353 shares of the savings and loans company’s stock valued at $1,834,000 after purchasing an additional 1,572 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Pathward Financial by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,180 shares of the savings and loans company’s stock worth $464,000 after acquiring an additional 963 shares in the last quarter. Boston Partners bought a new stake in shares of Pathward Financial in the 1st quarter worth $827,000. Harbor Capital Advisors Inc. grew its stake in shares of Pathward Financial by 5.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,419 shares of the savings and loans company’s stock worth $420,000 after acquiring an additional 397 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Pathward Financial in the 2nd quarter worth $25,000. Institutional investors own 92.66% of the company’s stock.

Insider Activity at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 9,644 shares in the company, valued at approximately $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas J. Hajek sold 2,000 shares of the company’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,350 shares of company stock worth $517,010. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Piper Sandler upped their target price 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.

Pathward Financial Stock Performance

NASDAQ CASH opened at $84.46 on Friday. Pathward Financial, Inc. has a 1 year low of $46.68 and a 1 year high of $86.00. 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 firm has a market cap of $2.11 billion, a price-to-earnings ratio of 12.74 and a beta of 0.67. The company has a fifty day moving average price of $73.52 and a 200-day moving average price of $64.97.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.08. The company 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 firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. As a group, equities research analysts predict that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

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. The ex-dividend date is Tuesday, December 10th. This represents a $0.20 annualized dividend and a yield of 0.24%. Pathward Financial’s payout ratio is currently 3.02%.

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.