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

New York State Teachers Retirement System cut its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 10.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,390 shares of the savings and loans company's stock after selling 3,085 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Pathward Financial worth $1,925,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CASH. Opal Wealth Advisors LLC bought a new position in Pathward Financial in the 1st quarter worth approximately $35,000. Smartleaf Asset Management LLC lifted its stake in 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 valued at $41,000 after buying an additional 414 shares during the period. Sterling Capital Management LLC raised its position in shares of Pathward Financial by 726.8% during the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock worth $43,000 after purchasing an additional 516 shares during the period. Bank of Montreal Can acquired a new stake in shares of Pathward Financial during the fourth quarter worth about $201,000. Finally, AXA S.A. bought a new position in shares of Pathward Financial during the fourth quarter worth about $203,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pathward Financial

In related news, Director Kendall E. Stork sold 4,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total value of $317,320.00. Following the sale, the director directly owned 6,153 shares of the company's stock, valued at $488,117.49. This represents a 39.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett L. Pharr sold 10,365 shares of Pathward Financial stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $78.07, for a total transaction of $809,195.55. Following the transaction, the chief executive officer directly owned 69,750 shares in the company, valued at approximately $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 sold a total of 17,882 shares of company stock worth $1,403,123 in the last 90 days. 1.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler boosted their price target on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods upped their target price on Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a research report on Friday.

Pathward Financial Stock Performance

Shares of Pathward Financial stock traded down $1.06 during trading hours on Friday, reaching $82.79. The company had a trading volume of 221,997 shares, compared to its average volume of 198,579. The firm has a market cap of $1.97 billion, a PE ratio of 11.17 and a beta of 0.62. Pathward Financial, Inc. has a one year low of $59.58 and a one year high of $86.00. The business has a fifty day simple moving average of $79.01 and a 200 day simple moving average of $76.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.40. The company 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 22.50% and a net margin of 22.69%. During the same quarter in the previous year, the business earned $2.56 EPS. On average, analysts anticipate 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. Shareholders of record on Friday, June 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, June 13th. Pathward Financial's dividend payout ratio (DPR) is presently 2.70%.

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.