New York State Teachers Retirement System Lowers Position in Pathward Financial, Inc. (NASDAQ:CASH)

New York State Teachers Retirement System reduced its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 26,390 shares of the savings and loans company's stock after selling 3,085 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Pathward Financial worth $1,925,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CASH. Revolve Wealth Partners LLC acquired a new stake in shares of Pathward Financial in the 4th quarter worth $267,437,000. Putney Financial Group LLC acquired a new stake in shares of Pathward Financial in the 4th quarter worth $32,223,000. JPMorgan Chase & Co. lifted its stake in shares of Pathward Financial by 52.2% in the 4th quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company's stock worth $41,885,000 after acquiring an additional 195,331 shares during the period. FMR LLC lifted its stake in shares of Pathward Financial by 7.4% in the 4th quarter. FMR LLC now owns 2,203,603 shares of the savings and loans company's stock worth $162,141,000 after acquiring an additional 151,316 shares during the period. Finally, Aptus Capital Advisors LLC acquired a new stake in shares of Pathward Financial in the 4th quarter worth $7,343,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Pathward Financial Price Performance

CASH stock traded up $0.59 during trading on Thursday, reaching $84.34. 23,035 shares of the company were exchanged, compared to its average volume of 197,780. The company has a market cap of $2.01 billion, a P/E ratio of 11.38 and a beta of 0.62. Pathward Financial, Inc. has a 52-week low of $57.70 and a 52-week high of $86.00. The stock's 50 day moving average price is $78.92 and its 200 day moving average price is $76.46. 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 quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS 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 22.69% and a return on equity of 22.50%. During the same quarter in the previous year, the firm earned $2.56 earnings per share. As a group, analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Friday, June 13th. Pathward Financial's dividend payout ratio is currently 2.70%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler raised their target price 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 Activity at Pathward Financial

In other Pathward Financial news, 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 completion of the transaction, the director owned 6,153 shares in the company, valued at approximately $488,117.49. The trade was a 39.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jennifer W. Warren sold 1,667 shares of Pathward Financial stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $77.97, for a total transaction of $129,975.99. Following the transaction, the chief accounting officer owned 5,019 shares of the company's stock, valued at approximately $391,331.43. The trade was a 24.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,882 shares of company stock worth $1,403,123 in the last ninety days. Corporate insiders own 1.23% of the company's stock.

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.