Corsair Capital Management L.P. Sells 4,000 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Corsair Capital Management L.P. cut its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 40.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,797 shares of the savings and loans company’s stock after selling 4,000 shares during the quarter. Corsair Capital Management L.P.’s holdings in Pathward Financial were worth $383,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CASH. Assenagon Asset Management S.A. lifted its stake in shares of Pathward Financial by 103.3% in the second quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock worth $8,437,000 after buying an additional 75,792 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Pathward Financial during the third quarter valued at approximately $476,000. Foundry Partners LLC increased 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 worth $8,678,000 after buying an additional 48,917 shares in the last quarter. Algert Global LLC boosted its position in shares of Pathward Financial by 83.1% during the second quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock worth $4,547,000 after acquiring an additional 36,475 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Pathward Financial by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock valued at $724,000 after buying an additional 315 shares in the last quarter. 92.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler raised their price target on Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th.

Insider Transactions at Pathward Financial

In other news, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total value of $129,820.00. Following the completion of the sale, the director now owns 19,531 shares of the company’s stock, valued at $1,267,757.21. This represents a 9.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Greg Sigrist sold 2,250 shares of the firm’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 sale, the chief financial officer now owns 9,644 shares of the company’s stock, valued at $777,306.40. This represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,350 shares of company stock valued at $517,010 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Pathward Financial Price Performance

Shares of CASH stock opened at $83.48 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $86.00. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 12.59 and a beta of 0.67. The stock’s 50-day simple moving average is $72.88 and its 200-day simple moving average is $64.69.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The business had revenue of $167.90 million during the quarter, compared to analysts’ expectations of $167.20 million. During the same quarter in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal 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 paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. Pathward Financial’s dividend payout ratio is currently 3.02%.

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.