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

Millennium Management LLC cut its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and 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 SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cetera Investment Advisers grew its stake in Pathward Financial by 2.9% during the 4th quarter. Cetera Investment Advisers now owns 6,107 shares of the savings and loans company's stock worth $449,000 after buying an additional 171 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Pathward Financial by 302.2% during 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 during the period. KBC Group NV grew its position in Pathward Financial by 45.8% in the 4th quarter. KBC Group NV now owns 1,417 shares of the savings and loans company's stock valued at $104,000 after buying an additional 445 shares in the last quarter. Sterling Capital Management LLC increased its stake in Pathward Financial by 726.8% during the 4th quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock valued at $43,000 after buying an additional 516 shares during the period. Finally, Aquatic Capital Management LLC raised its position in shares of Pathward Financial by 11.1% during the 4th quarter. Aquatic Capital Management LLC now owns 5,333 shares of the savings and loans company's stock worth $392,000 after buying an additional 533 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Douglas J. Hajek sold 1,850 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $79.26, for a total transaction of $146,631.00. Following the transaction, the director now directly owns 19,631 shares of the company's stock, valued at approximately $1,555,953.06. The trade was a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kendall E. Stork sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total value of $317,320.00. Following the completion of the transaction, the director now directly owns 6,153 shares in the company, valued at $488,117.49. The trade was a 39.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,882 shares of company stock worth $1,403,123. 1.23% of the stock is owned by corporate insiders.

Pathward Financial Stock Performance

Pathward Financial stock traded down $0.97 on Wednesday, hitting $77.08. The company's stock had a trading volume of 14,141 shares, compared to its average volume of 196,566. The firm has a market cap of $1.84 billion, a P/E ratio of 11.24 and a beta of 0.64. The company has a fifty day moving average price of $76.04 and a 200-day moving average price of $77.07. Pathward Financial, Inc. has a one year low of $51.98 and a one year high of $86.00. 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 (NASDAQ:CASH - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, topping the consensus estimate of $2.71 by $0.40. The business had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. During the same period in the previous year, the business earned $2.56 EPS. On average, equities analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

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

Analysts Set New Price Targets

Separately, Piper Sandler lifted 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.

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.