D. E. Shaw & Co. Inc. Sells 40,692 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

D. E. Shaw & Co. Inc. cut its position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 33.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,400 shares of the savings and loans company's stock after selling 40,692 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.34% of Pathward Financial worth $6,063,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Meritage Portfolio Management purchased a new stake in shares of Pathward Financial in the fourth quarter valued at $435,000. Assenagon Asset Management S.A. acquired a new position in shares of Pathward Financial in the 4th quarter valued at about $10,865,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Pathward Financial in the fourth quarter worth approximately $3,734,999,000. Natixis Advisors LLC purchased a new position in Pathward Financial during the fourth quarter valued at approximately $1,739,000. Finally, Barclays PLC grew its position in Pathward Financial by 83.1% during the third quarter. Barclays PLC now owns 56,327 shares of the savings and loans company's stock valued at $3,718,000 after purchasing an additional 25,570 shares in the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

Pathward Financial Stock Performance

Shares of NASDAQ:CASH traded down $0.44 during trading on Tuesday, reaching $80.71. The stock had a trading volume of 114,118 shares, compared to its average volume of 196,976. The stock has a fifty day simple moving average of $75.04 and a two-hundred day simple moving average of $77.10. 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, Inc. has a 52 week low of $51.97 and a 52 week high of $86.00. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 11.77 and a beta of 0.64.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.40. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The business had revenue of $262.90 million for the quarter, compared to analyst estimates of $256.30 million. During the same period in the previous year, the company posted $2.56 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.25%. Pathward Financial's dividend payout ratio (DPR) is currently 2.70%.

Insiders Place Their Bets

In related news, Director Douglas J. Hajek sold 1,850 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $79.26, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kendall E. Stork sold 4,000 shares of Pathward Financial 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 now owns 6,153 shares of the company's stock, valued at approximately $488,117.49. This represents a 39.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,882 shares of company stock worth $1,403,123 over the last 90 days. Corporate insiders own 1.23% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price objective on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research report 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.