Lazard Asset Management LLC Sells 1,028 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Lazard Asset Management LLC lessened its position in shares of Pathward Financial, Inc. (NASDAQ:CASH – Get Rating) by 46.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,191 shares of the savings and loans company’s stock after selling 1,028 shares during the period. Lazard Asset Management LLC’s holdings in Pathward Financial were worth $39,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Pathward Financial during the first quarter worth about $34,000. Brown Brothers Harriman & Co. raised its position in shares of Pathward Financial by 19.1% in the second quarter. Brown Brothers Harriman & Co. now owns 2,507 shares of the savings and loans company’s stock valued at $97,000 after buying an additional 402 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Pathward Financial by 27.2% in the first quarter. Advisor Group Holdings Inc. now owns 2,116 shares of the savings and loans company’s stock valued at $116,000 after buying an additional 453 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Pathward Financial during the second quarter worth approximately $120,000. Finally, Captrust Financial Advisors bought a new position in Pathward Financial during the 2nd quarter worth $120,000. Institutional investors and hedge funds own 89.63% of the company’s stock.

Insider Activity

In related news, President Anthony M. Sharett sold 2,500 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $46.60, for a total value of $116,500.00. Following the completion of the transaction, the president now owns 30,486 shares of the company’s stock, valued at approximately $1,420,647.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their target price on Pathward Financial from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.25.

Pathward Financial Stock Performance

NASDAQ CASH opened at $49.60 on Thursday. Pathward Financial, Inc. has a 1 year low of $31.16 and a 1 year high of $57.57. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.78 and a beta of 0.80. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $48.33 and its 200 day simple moving average is $41.95.

Pathward Financial (NASDAQ:CASH – Get Rating) last issued its earnings results on Wednesday, January 25th. The savings and loans company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Pathward Financial had a return on equity of 18.73% and a net margin of 20.37%. The firm had revenue of $149.83 million for the quarter, compared to the consensus estimate of $136.79 million. During the same quarter last year, the business posted $0.78 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. As a group, research analysts expect that Pathward Financial, Inc. will post 5.61 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.40%. Pathward Financial’s dividend payout ratio (DPR) is currently 4.75%.

About Pathward Financial

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Pathward Financial, Inc operates as a financial holding company, which provides savings and loan services. The firm operates through the following business segments: Consumer, Commercial, and Corporate Services and Other. The Consumer segment provides meta payment systems (MPS), consumer credit products, warehouse finance and other tax services.