Algert Global LLC Has $7.49 Million Stake in Pathward Financial, Inc. $CASH

Key Points

• Algert Global LLC reduced its holdings in Pathward Financial by 10.7%, selling 12,330 shares and owning 102,647 shares valued at approximately $7.48 million.
• Pathward Financial's stock dropped by 1.7%, trading at $75.30, with a market cap of $1.80 billion and a PE ratio of 9.96.
• The company reported earnings per share of $1.81 for the last quarter, surpassing estimates, and announced a quarterly dividend of $0.05 per share.

Algert Global LLC lessened its holdings in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,647 shares of the savings and loans company's stock after selling 12,330 shares during the period. Algert Global LLC owned 0.43% of Pathward Financial worth $7,488,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in shares of Pathward Financial during the 1st quarter worth about $35,000. Sterling Capital Management LLC grew its stake in Pathward Financial by 726.8% during the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock worth $43,000 after buying an additional 516 shares during the last quarter. USAdvisors Wealth Management LLC grew its stake in Pathward Financial by 37.0% during the first quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock worth $44,000 after buying an additional 164 shares during the last quarter. Vestcor Inc acquired a new position in shares of Pathward Financial during the first quarter worth approximately $123,000. Finally, Bank of Montreal Can acquired a new position in shares of Pathward Financial during the fourth quarter worth approximately $201,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Pathward Financial Price Performance

CASH stock traded up $3.58 during mid-day trading on Friday, hitting $78.74. The stock had a trading volume of 187,548 shares, compared to its average volume of 192,398. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 52 week low of $62.79 and a 52 week high of $86.00. The firm has a market capitalization of $1.88 billion, a P/E ratio of 10.42 and a beta of 0.62. The firm has a fifty day simple moving average of $78.11 and a 200 day simple moving average of $76.80.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its earnings results on Monday, July 28th. The savings and loans company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.57 by $0.24. The firm had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $1.66 EPS. As a group, research analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. Pathward Financial's payout ratio is 2.65%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Pathward Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Pathward Financial Company 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.