Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by City State Bank

City State Bank reduced its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 39.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,670 shares of the savings and loans company’s stock after selling 1,070 shares during the quarter. City State Bank’s holdings in Pathward Financial were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Management Professionals Inc. acquired a new position in Pathward Financial during the third quarter valued at $29,000. Quarry LP lifted its position in Pathward Financial by 419.0% during the second quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after purchasing an additional 419 shares during the period. Point72 DIFC Ltd acquired a new position in Pathward Financial during the third quarter valued at $35,000. USA Financial Formulas acquired a new position in Pathward Financial during the third quarter valued at $56,000. Finally, nVerses Capital LLC acquired a new position in Pathward Financial during the third quarter valued at $79,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the company’s 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 sale, the chief financial officer now owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. This represents a 18.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CASH shares. Piper Sandler boosted their target price on shares of Pathward Financial from $82.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Pathward Financial Trading Up 0.7 %

Shares of Pathward Financial stock opened at $72.73 on Tuesday. The firm has a 50-day simple moving average of $78.71 and a two-hundred day simple moving average of $70.40. The company has a market cap of $1.75 billion, a P/E ratio of 10.97 and a beta of 0.72. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $86.00. 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 (NASDAQ:CASH) last released its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.08. The business had revenue of $167.90 million during the quarter, compared to analysts’ expectations of $167.20 million. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. As a group, equities analysts predict that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. Pathward Financial’s dividend 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.