Assenagon Asset Management S.A. Lowers Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Assenagon Asset Management S.A. lessened its position in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 86.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,314 shares of the savings and loans company’s stock after selling 127,346 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.09% of Pathward Financial worth $1,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in shares of Pathward Financial by 2.9% during the 4th quarter. Cetera Investment Advisers now owns 6,107 shares of the savings and loans company’s stock worth $449,000 after acquiring an additional 171 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Pathward Financial by 302.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company’s stock worth $41,000 after purchasing an additional 414 shares during the period. Sterling Capital Management LLC boosted its position in Pathward Financial by 726.8% during the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company’s stock worth $43,000 after purchasing an additional 516 shares in the last quarter. Aquatic Capital Management LLC boosted its position in Pathward Financial by 11.1% during the fourth quarter. Aquatic Capital Management LLC now owns 5,333 shares of the savings and loans company’s stock worth $392,000 after purchasing an additional 533 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Pathward Financial by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,302 shares of the savings and loans company’s stock valued at $1,052,000 after purchasing an additional 543 shares during the period. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Stock Performance

CASH opened at $73.34 on Wednesday. The firm’s fifty day simple moving average is $77.13 and its two-hundred day simple moving average is $76.64. Pathward Financial, Inc. has a 52-week low of $53.11 and a 52-week high of $86.00. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 9.90 and a beta of 0.63. 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 quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.40. Pathward Financial had a net margin of 22.69% and a return on equity of 22.50%. The firm had revenue of $262.90 million for the quarter, compared to analyst estimates of $256.30 million. During the same period last year, the company posted $2.56 EPS. Equities analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Friday, June 13th. Pathward Financial’s dividend payout ratio is presently 2.70%.

Insider Buying and Selling

In other Pathward Financial news, CEO Brett L. Pharr sold 10,365 shares of Pathward Financial stock in a transaction on Friday, April 25th. The shares were sold at an average price of $78.07, for a total transaction of $809,195.55. Following the sale, the chief executive officer now owns 69,750 shares of the company’s stock, valued at $5,445,382.50. The trade was a 12.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas J. Hajek sold 1,850 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $79.26, for a total transaction of $146,631.00. Following the completion of the sale, the director now owns 19,631 shares of the company’s stock, valued at $1,555,953.06. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,882 shares of company stock worth $1,403,123. 1.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

About Pathward Financial

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.