Vinva Investment Management Ltd Has $6.90 Million Stock Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Vinva Investment Management Ltd raised its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 13.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,508 shares of the savings and loans company’s stock after buying an additional 12,118 shares during the period. Vinva Investment Management Ltd’s holdings in Pathward Financial were worth $6,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of Pathward Financial by 6.9% during the 3rd quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock valued at $135,471,000 after acquiring an additional 132,067 shares in the last quarter. American Century Companies Inc. raised its position in Pathward Financial by 20.4% in 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Pathward Financial by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 328,413 shares of the savings and loans company’s stock valued at $21,679,000 after purchasing an additional 1,733 shares in the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Pathward Financial by 3.2% during the third quarter. Mawer Investment Management Ltd. now owns 225,815 shares of the savings and loans company’s stock worth $14,906,000 after purchasing an additional 7,049 shares during the last quarter. Finally, Elgethun Capital Management increased its stake in shares of Pathward Financial by 1.9% in the second quarter. Elgethun Capital Management now owns 193,747 shares of the savings and loans company’s stock valued at $10,960,000 after buying an additional 3,681 shares during the period. Institutional investors own 92.66% of the company’s stock.

Insider Activity

In other news, CFO Greg Sigrist sold 2,250 shares of Pathward Financial stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the completion of the sale, the chief financial officer now owns 9,644 shares in the company, valued at $777,306.40. The trade was a 18.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $66.40, for a total value of $205,840.00. Following the transaction, the president now directly owns 30,046 shares in the company, valued at approximately $1,995,054.40. This trade represents a 9.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,350 shares of company stock valued at $517,010. 0.72% of the stock is currently owned by insiders.

Pathward Financial Stock Up 1.2 %

Shares of NASDAQ:CASH opened at $84.46 on Thursday. The firm has a market cap of $2.11 billion, a P/E ratio of 12.74 and a beta of 0.67. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00. The business has a fifty day simple moving average of $73.21 and a 200 day simple moving average of $64.83. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH) last issued 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 analysts’ expectations of $167.20 million. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Analysts predict that Pathward Financial, Inc. will post 7.05 earnings per share for the current year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be given a $0.05 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Pathward Financial’s dividend payout ratio (DPR) is currently 3.02%.

Wall Street Analyst Weigh In

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

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.