GAMMA Investing LLC Purchases 45,308 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

GAMMA Investing LLC increased its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 8,971.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,813 shares of the savings and loans company's stock after purchasing an additional 45,308 shares during the quarter. GAMMA Investing LLC owned approximately 0.19% of Pathward Financial worth $3,342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Putney Financial Group LLC acquired a new stake in Pathward Financial in the fourth quarter worth about $32,223,000. Squarepoint Ops LLC increased its position in Pathward Financial by 317.3% in the fourth quarter. Squarepoint Ops LLC now owns 26,833 shares of the savings and loans company's stock worth $1,974,000 after purchasing an additional 20,403 shares during the period. Two Sigma Advisers LP increased its position in Pathward Financial by 4.5% in the fourth quarter. Two Sigma Advisers LP now owns 130,400 shares of the savings and loans company's stock worth $9,595,000 after purchasing an additional 5,600 shares during the period. ProShare Advisors LLC increased its position in Pathward Financial by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 7,571 shares of the savings and loans company's stock worth $557,000 after purchasing an additional 2,329 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Pathward Financial by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 383,036 shares of the savings and loans company's stock worth $28,184,000 after purchasing an additional 15,740 shares during the period. 92.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Pathward Financial Stock Down 2.1%

NASDAQ CASH traded down $1.56 during trading on Friday, hitting $74.37. The stock had a trading volume of 143,036 shares, compared to its average volume of 196,831. The company has a market capitalization of $1.77 billion, a PE ratio of 10.84 and a beta of 0.63. The company's 50-day moving average price is $76.94 and its two-hundred day moving average price is $76.78. 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, Inc. has a 12 month low of $52.05 and a 12 month high of $86.00.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.40. The company had revenue of $262.90 million for the quarter, compared to analysts' expectations of $256.30 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. During the same quarter in the prior year, the business posted $2.56 EPS. As a group, sell-side analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.27%. The ex-dividend date is Friday, June 13th. Pathward Financial's dividend payout ratio (DPR) is presently 2.70%.

Insider Activity at Pathward Financial

In other news, CEO Brett L. Pharr sold 10,365 shares of the firm's stock in a transaction dated 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 in the company, valued at $5,445,382.50. This trade represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer W. Warren sold 1,667 shares of Pathward Financial stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $77.97, for a total value of $129,975.99. Following the completion of the sale, the chief accounting officer now 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. Insiders have sold 17,882 shares of company stock valued at $1,403,123 over the last ninety days. 1.23% of the stock is owned by corporate insiders.

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.