Pathward Financial, Inc. (NASDAQ:CASH) Stock Position Lowered by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,688 shares of the savings and loans company’s stock after selling 1,017 shares during the period. Illinois Municipal Retirement Fund’s holdings in Pathward Financial were worth $777,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CASH. Moody Aldrich Partners LLC acquired a new position in shares of Pathward Financial in the third quarter worth $4,157,000. Stifel Financial Corp lifted its holdings in shares of Pathward Financial by 981.5% during the 3rd quarter. Stifel Financial Corp now owns 98,040 shares of the savings and loans company’s stock valued at $4,519,000 after buying an additional 88,975 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in Pathward Financial in the third quarter worth approximately $3,519,000. Panagora Asset Management Inc. increased its holdings in Pathward Financial by 58.5% in the third quarter. Panagora Asset Management Inc. now owns 162,559 shares of the savings and loans company’s stock worth $7,492,000 after buying an additional 60,007 shares during the last quarter. Finally, Jupiter Asset Management Ltd. raised its position in Pathward Financial by 36.5% during the third quarter. Jupiter Asset Management Ltd. now owns 184,716 shares of the savings and loans company’s stock valued at $8,514,000 after acquiring an additional 49,418 shares in the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.50, for a total value of $47,500.00. Following the sale, the president now owns 33,146 shares of the company’s stock, valued at approximately $1,574,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by insiders.

Pathward Financial Stock Down 1.2 %

CASH opened at $51.53 on Tuesday. Pathward Financial, Inc. has a twelve month low of $41.34 and a twelve month high of $60.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.71. The business has a 50 day moving average price of $50.04 and a 200 day moving average price of $50.17. The firm has a market cap of $1.31 billion, a P/E ratio of 7.74 and a beta of 0.71.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.19. The business had revenue of $247.25 million during the quarter, compared to the consensus estimate of $240.46 million. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. Pathward Financial’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.18 EPS. Research analysts forecast that Pathward Financial, Inc. will post 6.43 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.05 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.39%. Pathward Financial’s payout ratio is presently 3.00%.

Analyst Upgrades and Downgrades

Several research firms have commented on CASH. Piper Sandler decreased their target price on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Keefe, Bruyette & Woods decreased their price objective on shares of Pathward Financial from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, April 5th.

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.