Phocas Financial Corp. Decreases Stock Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Phocas Financial Corp. reduced its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 174,307 shares of the savings and loans company’s stock after selling 10,863 shares during the quarter. Phocas Financial Corp. owned about 0.70% of Pathward Financial worth $11,506,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. 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 acquiring an additional 85,566 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Pathward Financial by 7.8% during the first quarter. Epoch Investment Partners Inc. now owns 269,425 shares of the savings and loans company’s stock worth $13,601,000 after buying an additional 19,539 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Pathward Financial by 3.2% in the third quarter. Mawer Investment Management Ltd. now owns 225,815 shares of the savings and loans company’s stock valued at $14,906,000 after purchasing an additional 7,049 shares during the period. Elgethun Capital Management increased its holdings in shares of Pathward Financial by 1.9% during the 2nd quarter. Elgethun Capital Management now owns 193,747 shares of the savings and loans company’s stock worth $10,960,000 after buying an additional 3,681 shares during the last quarter. Finally, F M Investments LLC purchased a new stake in Pathward Financial in the second quarter valued at $10,784,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Stock Performance

Shares of CASH stock opened at $79.20 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 11.95 and a beta of 0.67. The company has a 50 day moving average price of $70.83 and a 200 day moving average price of $63.32. Pathward Financial, Inc. has a one year low of $46.68 and a one year high of $83.83.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.27 by $0.08. The business had revenue of $167.90 million for 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 company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Sell-side analysts anticipate that Pathward Financial, Inc. will post 7.05 EPS for the current year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date was Tuesday, September 10th. Pathward Financial’s dividend payout ratio (DPR) is 3.02%.

Insider Activity at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the business’s 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 transaction, the chief financial officer now directly owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Douglas J. Hajek sold 2,000 shares of the business’s 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 directly owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,350 shares of company stock worth $517,010 in the last three months. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CASH shares. Piper Sandler boosted their target price on Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price target on Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th.

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.