Aviva PLC Reduces Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Aviva PLC cut its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH – Get Rating) by 84.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,463 shares of the savings and loans company’s stock after selling 40,226 shares during the period. Aviva PLC’s holdings in Pathward Financial were worth $321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arizona State Retirement System raised its holdings in Pathward Financial by 2.7% in the 4th quarter. Arizona State Retirement System now owns 8,198 shares of the savings and loans company’s stock worth $353,000 after purchasing an additional 218 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Pathward Financial by 1.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 13,776 shares of the savings and loans company’s stock worth $593,000 after buying an additional 225 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in Pathward Financial by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 19,172 shares of the savings and loans company’s stock worth $825,000 after buying an additional 264 shares during the period. Bank of Montreal Can boosted its position in Pathward Financial by 2.9% during the 1st quarter. Bank of Montreal Can now owns 9,369 shares of the savings and loans company’s stock valued at $526,000 after acquiring an additional 264 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Pathward Financial by 1.0% during the 1st quarter. Guggenheim Capital LLC now owns 26,774 shares of the savings and loans company’s stock worth $1,471,000 after acquiring an additional 272 shares during the period. Institutional investors own 89.63% of the company’s stock.

Pathward Financial Stock Performance

Shares of CASH stock opened at $45.90 on Monday. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 0.67. Pathward Financial, Inc. has a one year low of $31.16 and a one year high of $52.71. The company’s 50-day moving average is $42.76 and its 200 day moving average is $44.81.

Pathward Financial (NASDAQ:CASH – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The savings and loans company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. The firm had revenue of $228.44 million for the quarter, compared to analysts’ expectations of $210.36 million. Pathward Financial had a net margin of 20.19% and a return on equity of 20.80%. During the same quarter in the prior year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts expect that Pathward Financial, Inc. will post 5.7 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 8th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Wednesday, June 7th. Pathward Financial’s dividend payout ratio is currently 4.41%.

Insider Activity

In related news, Director Frederick V. Moore sold 3,350 shares of Pathward Financial stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $46.61, for a total value of $156,143.50. Following the completion of the sale, the director now directly owns 4,110 shares in the company, valued at approximately $191,567.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired a total of 850 shares of company stock valued at $37,057 over the last ninety days. 1.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com lowered Pathward Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 13th. Keefe, Bruyette & Woods reduced their target price on shares of Pathward Financial from $49.00 to $47.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. 92 Resources reissued a “maintains” rating on shares of Pathward Financial in a research note on Thursday, April 27th. Finally, Piper Sandler decreased their target price on shares of Pathward Financial from $63.00 to $59.00 in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.00.

Pathward Financial Company Profile

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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.