Principal Financial Group Inc. Lowers Stock Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Principal Financial Group Inc. cut its position in Pathward Financial, Inc. (NASDAQ:CASH) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,915 shares of the savings and loans company’s stock after selling 7,036 shares during the quarter. Principal Financial Group Inc. owned 0.49% of Pathward Financial worth $7,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mawer Investment Management Ltd. acquired a new position in Pathward Financial in the 2nd quarter valued at about $12,376,000. FMR LLC grew its holdings in shares of Pathward Financial by 6.9% in the third quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock valued at $135,471,000 after purchasing an additional 132,067 shares in the last quarter. American Century Companies Inc. increased its stake in Pathward Financial by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock worth $28,551,000 after buying an additional 85,566 shares during the period. Foundry Partners LLC acquired a new stake in Pathward Financial during the 2nd quarter worth approximately $4,669,000. Finally, Marshall Wace LLP lifted its holdings in Pathward Financial by 321.9% during the 2nd quarter. Marshall Wace LLP now owns 93,127 shares of the savings and loans company’s stock worth $5,268,000 after buying an additional 71,054 shares in the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Stock Down 0.9 %

CASH stock opened at $73.58 on Wednesday. The company’s 50 day moving average price is $78.18 and its 200 day moving average price is $69.20. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 11.10 and a beta of 0.69. 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 announced its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.08. The company had revenue of $167.90 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 EPS. On average, equities research analysts anticipate that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Tuesday, December 10th. Pathward Financial’s dividend payout ratio (DPR) is 3.02%.

Insider Transactions 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 stock was 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 in the company, valued at $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

CASH has been the subject of several research reports. Piper Sandler boosted their price target on shares of Pathward Financial from $82.00 to $94.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods boosted their target price on Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

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.