NFJ Investment Group LLC Decreases Stock Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

NFJ Investment Group LLC lowered its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 21.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 48,646 shares of the savings and loans company’s stock after selling 13,171 shares during the quarter. NFJ Investment Group LLC’s holdings in Pathward Financial were worth $3,211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mawer Investment Management Ltd. purchased a new stake in shares of Pathward Financial during the 2nd quarter valued at about $12,376,000. F M Investments LLC bought a new stake in Pathward Financial during the second quarter worth approximately $10,784,000. FMR LLC increased its stake in Pathward Financial by 6.9% during the third quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock worth $135,471,000 after acquiring an additional 132,067 shares during the last quarter. American Century Companies Inc. raised its position in Pathward Financial by 20.4% during the second quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock valued at $28,551,000 after purchasing an additional 85,566 shares during the period. Finally, Foundry Partners LLC bought a new stake in shares of Pathward Financial in the 2nd quarter valued at approximately $4,669,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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 related news, President Anthony M. Sharett sold 3,100 shares of Pathward Financial stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the sale, the president now owns 30,046 shares of the company’s stock, valued at $1,995,054.40. The trade was a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Greg Sigrist sold 2,250 shares of the company’s stock in a transaction 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 directly owns 9,644 shares in the company, valued at $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,350 shares of company stock valued at $517,010 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Pathward Financial Trading Down 0.6 %

NASDAQ CASH opened at $82.98 on Wednesday. The company’s 50-day moving average price is $74.54 and its 200-day moving average price is $65.74. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 12 month low of $46.68 and a 12 month high of $86.00. The stock has a market cap of $2.00 billion, a PE ratio of 12.52 and a beta of 0.69.

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

Pathward Financial Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.24%. Pathward Financial’s payout ratio is 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.