Ameriprise Financial Inc. Sells 6,661 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Ameriprise Financial Inc. cut its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,176 shares of the savings and loans company’s stock after selling 6,661 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.26% of Pathward Financial worth $4,575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CASH. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Pathward Financial in the fourth quarter worth about $3,734,999,000. Revolve Wealth Partners LLC purchased a new position in Pathward Financial in the 4th quarter worth approximately $267,437,000. FMR LLC boosted its stake in Pathward Financial by 7.4% in the 4th quarter. FMR LLC now owns 2,203,603 shares of the savings and loans company’s stock worth $162,141,000 after purchasing an additional 151,316 shares during the period. Geode Capital Management LLC boosted its stake in Pathward Financial by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 711,538 shares of the savings and loans company’s stock worth $52,365,000 after purchasing an additional 11,654 shares during the period. Finally, American Century Companies Inc. grew its holdings in Pathward Financial by 10.8% during the 4th quarter. American Century Companies Inc. now owns 643,150 shares of the savings and loans company’s stock valued at $47,323,000 after buying an additional 62,931 shares in the last quarter. 92.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd.

Pathward Financial Stock Down 0.4%

Shares of CASH stock opened at $77.28 on Monday. The company’s fifty day simple moving average is $75.60 and its two-hundred day simple moving average is $77.18. Pathward Financial, Inc. has a 52 week low of $51.97 and a 52 week high of $86.00. The stock has a market cap of $1.84 billion, a P/E ratio of 11.27 and a beta of 0.64. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH) last issued its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.40. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The firm had revenue of $262.90 million for the quarter, compared to analysts’ expectations of $256.30 million. During the same period in the previous year, the firm posted $2.56 earnings per share. Analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.26%. Pathward Financial’s dividend payout ratio (DPR) is 2.70%.

Insider Activity

In other news, Director Kendall E. Stork sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total value of $317,320.00. Following the sale, the director now directly owns 6,153 shares in the company, valued at $488,117.49. The trade was a 39.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brett L. Pharr sold 10,365 shares of Pathward Financial stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $78.07, for a total value of $809,195.55. Following the completion of the transaction, the chief executive officer now owns 69,750 shares of the company’s stock, valued at approximately $5,445,382.50. This represents a 12.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,882 shares of company stock worth $1,403,123. 1.23% of the stock is currently owned by insiders.

Pathward Financial 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.