Concurrent Investment Advisors LLC Takes $235,000 Position in Pathward Financial, Inc. (NASDAQ:CASH)

Concurrent Investment Advisors LLC acquired a new stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,217 shares of the savings and loans company's stock, valued at approximately $235,000.

A number of other large investors have also modified their holdings of CASH. Revolve Wealth Partners LLC purchased a new position in Pathward Financial during the fourth quarter valued at $267,437,000. Charles Schwab Investment Management Inc. raised its position in shares of Pathward Financial by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,455 shares of the savings and loans company's stock worth $24,388,000 after purchasing an additional 3,042 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Pathward Financial by 77.0% in the 4th quarter. Victory Capital Management Inc. now owns 41,728 shares of the savings and loans company's stock valued at $3,070,000 after buying an additional 18,156 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Pathward Financial in the 4th quarter valued at about $279,000. Finally, Amundi boosted its holdings in Pathward Financial by 186.7% in the 4th quarter. Amundi now owns 12,607 shares of the savings and loans company's stock worth $939,000 after buying an additional 8,210 shares during the last quarter. Institutional investors and hedge funds own 92.66% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CASH. Keefe, Bruyette & Woods increased their target price on Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Piper Sandler boosted their price target on Pathward Financial from $91.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd.

Pathward Financial Price Performance

Shares of NASDAQ:CASH traded up $0.12 during midday trading on Wednesday, hitting $81.54. The company's stock had a trading volume of 139,400 shares, compared to its average volume of 197,886. The company has a market cap of $1.94 billion, a P/E ratio of 11.00 and a beta of 0.62. Pathward Financial, Inc. has a 12-month low of $60.42 and a 12-month high of $86.00. The business's 50 day simple moving average is $79.05 and its 200 day simple moving average is $76.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.40. The business had revenue of $262.90 million for the quarter, compared to analyst estimates of $256.30 million. Pathward Financial had a net margin of 22.69% and a return on equity of 22.50%. During the same period last year, the company posted $2.56 EPS. On average, analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis 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 currently 2.70%.

Insider Buying and Selling

In other Pathward Financial news, CAO Jennifer W. Warren sold 1,667 shares of Pathward Financial stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $77.97, for a total transaction of $129,975.99. Following the transaction, the chief accounting officer directly owned 5,019 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett L. Pharr sold 10,365 shares of the business's stock in a transaction dated Friday, April 25th. The shares were 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 in the company, valued at $5,445,382.50. The trade was a 12.94% 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 quarter. Corporate insiders own 1.23% of the company's stock.

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.