Nuveen Asset Management LLC Increases Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Nuveen Asset Management LLC lifted its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,036 shares of the savings and loans company's stock after buying an additional 15,740 shares during the period. Nuveen Asset Management LLC owned approximately 1.59% of Pathward Financial worth $28,184,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC grew its position in Pathward Financial by 302.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company's stock worth $41,000 after purchasing an additional 414 shares during the period. Sterling Capital Management LLC grew its position in Pathward Financial by 726.8% in the 4th 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. 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 worth $104,000 after purchasing an additional 445 shares during the period. Bank of Montreal Can bought a new stake in Pathward Financial in the 4th quarter worth approximately $201,000. Finally, AXA S.A. bought a new stake in Pathward Financial in the 4th quarter worth approximately $203,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brett L. Pharr sold 10,365 shares of the stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $78.07, for a total transaction of $809,195.55. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer W. Warren sold 1,667 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $77.97, for a total value of $129,975.99. Following the transaction, the chief accounting officer now directly owns 5,019 shares of the company's stock, valued at approximately $391,331.43. The trade was a 24.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,882 shares of company stock valued at $1,403,123. Company insiders own 1.23% of the company's stock.

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.

Pathward Financial Stock Performance

CASH traded down $1.27 during midday trading on Wednesday, reaching $77.02. The company had a trading volume of 17,911 shares, compared to its average volume of 196,080. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $75.77 and a two-hundred day moving average of $77.18. The company has a market cap of $1.84 billion, a P/E ratio of 11.23 and a beta of 0.64. Pathward Financial, Inc. has a 1 year low of $51.97 and a 1 year high of $86.00.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.40. The company had revenue of $262.90 million during 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 quarter in the prior year, the firm posted $2.56 EPS. As a group, equities research analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, June 13th. Pathward Financial's dividend 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.