Allspring Global Investments Holdings LLC Acquires 71,458 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Allspring Global Investments Holdings LLC grew its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 1,023.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,437 shares of the savings and loans company’s stock after buying an additional 71,458 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of Pathward Financial worth $5,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in Pathward Financial in the first quarter valued at $35,000. Smartleaf Asset Management LLC lifted its position in shares of 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 stake in shares of Pathward Financial by 726.8% during the 4th quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company’s stock valued at $43,000 after purchasing an additional 516 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Pathward Financial during the fourth quarter valued at about $201,000. Finally, AXA S.A. purchased a new position in shares of Pathward Financial during the fourth quarter valued at about $203,000. Institutional investors own 92.66% of the company’s stock.

Pathward Financial Trading Up 0.2%

NASDAQ CASH opened at $82.73 on Friday. The firm has a market capitalization of $1.97 billion, a PE ratio of 11.16 and a beta of 0.62. The stock’s 50 day moving average is $78.69 and its 200 day moving average is $76.28. Pathward Financial, Inc. has a twelve month low of $56.77 and a twelve month high of $86.00. 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 announced its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.71 by $0.40. The business had revenue of $262.90 million during the quarter, compared to analyst estimates of $256.30 million. Pathward Financial had a return on equity of 22.50% and a net margin of 22.69%. During the same quarter last year, the firm posted $2.56 earnings per share. Research analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Friday, June 13th. Pathward Financial’s dividend payout ratio (DPR) is presently 2.70%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price objective 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.

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, Director Douglas J. Hajek sold 1,850 shares of the business’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $79.26, for a total value of $146,631.00. Following the sale, the director directly owned 19,631 shares of the company’s stock, valued at approximately $1,555,953.06. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brett L. Pharr sold 10,365 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 69,750 shares in the company, valued at approximately $5,445,382.50. This represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,882 shares of company stock worth $1,403,123 over the last three months. Company insiders own 1.23% of the company’s stock.

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.