Millennium Management LLC Sells 10,093 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Millennium Management LLC reduced its position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 22.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,337 shares of the savings and loans company's stock after selling 10,093 shares during the quarter. Millennium Management LLC owned approximately 0.15% of Pathward Financial worth $2,600,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CASH. Pinnacle Wealth Planning Services Inc. purchased a new position in Pathward Financial during the 4th quarter valued at $3,734,999,000. Revolve Wealth Partners LLC purchased a new position in Pathward Financial during the 4th quarter valued at $267,437,000. JPMorgan Chase & Co. increased its position in Pathward Financial by 52.2% during the 4th quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company's stock valued at $41,885,000 after purchasing an additional 195,331 shares during the period. FMR LLC increased its position in Pathward Financial by 7.4% during the 4th quarter. FMR LLC now owns 2,203,603 shares of the savings and loans company's stock valued at $162,141,000 after purchasing an additional 151,316 shares during the period. Finally, Aptus Capital Advisors LLC purchased a new position in Pathward Financial during the 4th quarter valued at $7,343,000. 92.66% of the stock is currently owned by institutional investors.

Pathward Financial Stock Down 2.1%

Shares of NASDAQ:CASH traded down $1.67 during midday trading on Wednesday, reaching $76.37. The company's stock had a trading volume of 145,732 shares, compared to its average volume of 197,453. The firm has a 50 day moving average of $76.12 and a 200-day moving average of $77.07. The firm has a market capitalization of $1.82 billion, a P/E ratio of 11.13 and a beta of 0.64. 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 12-month low of $51.98 and a 12-month high of $86.00.

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 firm had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. During the same period in the prior year, the firm earned $2.56 EPS. On average, research analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, June 13th. Pathward Financial's dividend payout ratio is presently 2.70%.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price objective on shares of Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd.

Insider Transactions at Pathward Financial

In related news, CEO Brett L. Pharr sold 10,365 shares of the 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 sale, the chief executive officer now directly owns 69,750 shares of the company's stock, valued at approximately $5,445,382.50. This represents a 12.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kendall E. Stork sold 4,000 shares of the company's 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 transaction, the director now owns 6,153 shares in the company, valued at $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 valued at $1,403,123 in the last three months. 1.23% of the stock is currently owned by company insiders.

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.