Bank of New York Mellon Corp Sells 12,884 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Bank of New York Mellon Corp trimmed its position in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 190,672 shares of the savings and loans company’s stock after selling 12,884 shares during the quarter. Bank of New York Mellon Corp owned about 0.80% of Pathward Financial worth $13,909,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CASH. Revolve Wealth Partners LLC acquired a new position in shares of Pathward Financial during the fourth quarter valued at about $267,437,000. FMR LLC grew its position in Pathward Financial by 7.4% during 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 last quarter. Geode Capital Management LLC increased its stake in Pathward Financial by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 711,538 shares of the savings and loans company’s stock valued at $52,365,000 after purchasing an additional 11,654 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Pathward Financial by 10.8% in the fourth quarter. American Century Companies Inc. now owns 643,150 shares of the savings and loans company’s stock worth $47,323,000 after buying an additional 62,931 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Pathward Financial by 52.2% during the fourth quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company’s stock worth $41,885,000 after buying an additional 195,331 shares during the period. 92.66% of the stock is currently owned by institutional investors.

Pathward Financial Trading Down 2.0%

Shares of CASH stock opened at $80.93 on Friday. Pathward Financial, Inc. has a fifty-two week low of $60.42 and a fifty-two week high of $86.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. The stock’s fifty day moving average is $79.01 and its two-hundred day moving average is $76.87. The firm has a market capitalization of $1.93 billion, a P/E ratio of 10.92 and a beta of 0.62.

Pathward Financial (NASDAQ:CASH) last issued its 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 business had revenue of $262.90 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $2.56 EPS. Research analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Friday, June 13th. Pathward Financial’s dividend payout ratio (DPR) is presently 2.70%.

Insider Activity at Pathward Financial

In related news, CAO Jennifer W. Warren sold 1,667 shares of Pathward Financial stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $77.97, for a total value of $129,975.99. Following the completion of the transaction, the chief accounting officer owned 5,019 shares in the company, valued at approximately $391,331.43. The trade was a 24.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kendall E. Stork sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.33, for a total transaction of $317,320.00. Following the sale, the director directly owned 6,153 shares in the company, valued at approximately $488,117.49. The trade was a 39.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,882 shares of company stock valued at $1,403,123 in the last ninety days. Insiders own 1.23% of the company’s stock.

Wall Street Analysts Forecast Growth

CASH has been the subject of a number of research reports. Piper Sandler boosted their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods lifted their price target on Pathward Financial from $86.00 to $88.00 and gave the company a “market perform” rating in a research report on Friday, July 11th.

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.