Man Group plc Lowers Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Man Group plc trimmed its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 60.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,670 shares of the savings and loans company's stock after selling 18,010 shares during the period. Man Group plc's holdings in Pathward Financial were worth $859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake in shares of Pathward Financial by 302.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company's stock worth $41,000 after buying an additional 414 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Pathward Financial by 726.8% in 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 in the last quarter. KBC Group NV lifted its stake in shares of Pathward Financial by 45.8% in the fourth quarter. KBC Group NV now owns 1,417 shares of the savings and loans company's stock worth $104,000 after buying an additional 445 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Pathward Financial in the fourth quarter worth about $201,000. Finally, AXA S.A. purchased a new position in shares of Pathward Financial in the fourth quarter worth about $203,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, CEO Brett L. Pharr sold 10,365 shares of Pathward Financial 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 sale, the chief executive officer now directly owns 69,750 shares in the company, valued at $5,445,382.50. This trade represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kendall E. Stork sold 4,000 shares of Pathward Financial stock in a transaction dated Tuesday, April 29th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,882 shares of company stock worth $1,403,123 over the last three months. Insiders own 1.23% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler raised their price target 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.

Pathward Financial Trading Up 0.4%

Pathward Financial stock traded up $0.31 during midday trading on Thursday, hitting $77.56. 33,447 shares of the stock were exchanged, compared to its average volume of 196,265. Pathward Financial, Inc. has a fifty-two week low of $51.97 and a fifty-two week high of $86.00. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 11.31 and a beta of 0.64. The stock's 50-day simple moving average is $75.83 and its 200 day simple moving average is $77.18. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.40. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The firm had revenue of $262.90 million during the quarter, compared to analysts' expectations of $256.30 million. During the same period last year, the business earned $2.56 earnings per share. On average, equities analysts anticipate that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.26%. The ex-dividend date is Friday, June 13th. Pathward Financial's payout ratio is currently 2.70%.

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.