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

Bank of New York Mellon Corp decreased its holdings in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,672 shares of the savings and loans company's stock after selling 12,884 shares during the period. Bank of New York Mellon Corp owned 0.80% of Pathward Financial worth $13,909,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Pathward Financial by 1,023.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company's stock worth $5,799,000 after purchasing an additional 71,458 shares during the period. Diversified Trust Co boosted its holdings in Pathward Financial by 1.9% in the 1st quarter. Diversified Trust Co now owns 9,097 shares of the savings and loans company's stock valued at $664,000 after purchasing an additional 166 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Pathward Financial in the 1st quarter valued at $219,000. Opal Wealth Advisors LLC purchased a new stake in shares of Pathward Financial during the 1st quarter valued at $35,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Pathward Financial by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 235,005 shares of the savings and loans company's stock worth $17,144,000 after purchasing an additional 6,305 shares during the period. Hedge funds and other institutional investors own 92.66% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Brett L. Pharr sold 10,365 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $78.07, for a total transaction of $809,195.55. Following the completion of the transaction, the chief executive officer owned 69,750 shares of the company's stock, valued at $5,445,382.50. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kendall E. Stork sold 4,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.33, for a total value of $317,320.00. Following the completion of the transaction, the director directly owned 6,153 shares in the company, valued at $488,117.49. This trade represents a 39.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,882 shares of company stock worth $1,403,123. Company insiders own 1.23% of the company's stock.

Pathward Financial Stock Performance

Shares of CASH traded down $0.47 during trading hours on Monday, reaching $80.46. 121,246 shares of the company's stock traded hands, compared to its average volume of 196,495. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. Pathward Financial, Inc. has a twelve month low of $60.42 and a twelve month high of $86.00. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.86 and a beta of 0.62. The business's fifty day simple moving average is $79.01 and its two-hundred day simple moving average is $76.90.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.40. The business had revenue of $262.90 million during the quarter, compared to the consensus estimate 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 last year, the company earned $2.56 earnings per share. Analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Friday, June 13th. Pathward Financial's payout ratio is currently 2.70%.

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.