SummerHaven Investment Management LLC Grows Position in Pathward Financial, Inc. (NASDAQ:CASH)

SummerHaven Investment Management LLC raised its position in Pathward Financial, Inc. (NASDAQ:CASH) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,259 shares of the savings and loans company’s stock after purchasing an additional 208 shares during the quarter. SummerHaven Investment Management LLC owned 0.05% of Pathward Financial worth $755,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Kennicott Capital Management LLC purchased a new stake in Pathward Financial in the 4th quarter valued at about $35,000. Carmel Capital Partners LLC purchased a new stake in shares of Pathward Financial in the third quarter valued at approximately $36,000. Harvest Fund Management Co. Ltd grew its stake in Pathward Financial by 170.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,696 shares of the savings and loans company’s stock worth $78,000 after purchasing an additional 1,070 shares in the last quarter. Cottage Street Advisors LLC increased its holdings in Pathward Financial by 60.9% during the 4th quarter. Cottage Street Advisors LLC now owns 2,114 shares of the savings and loans company’s stock worth $112,000 after purchasing an additional 800 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Pathward Financial by 24.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 92.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CASH. Keefe, Bruyette & Woods cut their price target on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th. Piper Sandler reduced their price target on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, January 25th.

Insider Transactions at Pathward Financial

In related news, President Anthony M. Sharett sold 1,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $47.50, for a total transaction of $47,500.00. Following the transaction, the president now directly owns 33,146 shares in the company, valued at approximately $1,574,435. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Pathward Financial Trading Down 1.2 %

Shares of NASDAQ CASH opened at $51.53 on Tuesday. Pathward Financial, Inc. has a 1-year low of $41.34 and a 1-year high of $60.49. The business has a fifty day moving average price of $50.04 and a 200 day moving average price of $50.17. The stock has a market capitalization of $1.31 billion, a P/E ratio of 7.74 and a beta of 0.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.37 by $0.19. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The business had revenue of $247.25 million during the quarter, compared to analyst estimates of $240.46 million. During the same period in the prior year, the firm posted $2.18 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts expect that Pathward Financial, Inc. will post 6.43 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Monday, March 11th. Pathward Financial’s payout ratio is presently 3.00%.

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.