State of Alaska Department of Revenue Decreases Position in Pathward Financial, Inc. (NASDAQ:CASH)

State of Alaska Department of Revenue decreased its position in Pathward Financial, Inc. (NASDAQ:CASH) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,213 shares of the savings and loans company’s stock after selling 956 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Pathward Financial worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Pathward Financial in the 1st quarter worth $35,000. Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 414 shares during the last quarter. Sterling Capital Management LLC raised its stake in Pathward Financial by 726.8% in the 4th quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company’s stock worth $43,000 after acquiring an additional 516 shares during the last quarter. Bank of Montreal Can purchased a new position in Pathward Financial in the 4th quarter worth $201,000. Finally, AXA S.A. purchased a new position in Pathward Financial in the 4th quarter worth $203,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brett L. Pharr sold 10,365 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $78.07, for a total transaction of $809,195.55. Following the sale, the chief executive officer now directly owns 69,750 shares in the company, valued at $5,445,382.50. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer W. Warren sold 1,667 shares of the firm’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $77.97, for a total value of $129,975.99. Following the sale, the chief accounting officer now owns 5,019 shares in the company, valued at $391,331.43. This trade represents a 24.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,882 shares of company stock valued at $1,403,123. Company insiders own 1.23% of the company’s stock.

Pathward Financial Price Performance

Shares of CASH opened at $78.96 on Friday. The business’s 50-day moving average is $77.96 and its two-hundred day moving average is $76.28. The company has a market capitalization of $1.88 billion, a P/E ratio of 10.66 and a beta of 0.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. Pathward Financial, Inc. has a fifty-two week low of $55.86 and a fifty-two week high of $86.00.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.40. The company had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. Pathward Financial had a return on equity of 22.50% and a net margin of 22.69%. During the same period last year, the firm earned $2.56 EPS. Research analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, June 13th. Pathward Financial’s dividend payout ratio is currently 2.70%.

Analyst Ratings Changes

Separately, Piper Sandler raised 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.