Pathward Financial, Inc. (NASDAQ:CASH) is Putney Financial Group LLC's Largest Position

Putney Financial Group LLC decreased its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 411,470 shares of the savings and loans company's stock after selling 26,467 shares during the period. Pathward Financial accounts for about 24.1% of Putney Financial Group LLC's holdings, making the stock its biggest position. Putney Financial Group LLC owned about 1.73% of Pathward Financial worth $30,017,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Pathward Financial by 8,971.9% during the 1st quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company's stock valued at $3,342,000 after acquiring an additional 45,308 shares during the period. Pinnacle Wealth Planning Services Inc. purchased a new position in Pathward Financial in the fourth quarter valued at approximately $3,734,999,000. Natixis Advisors LLC bought a new position in Pathward Financial during the fourth quarter valued at $1,739,000. Raymond James Financial Inc. purchased a new stake in Pathward Financial in the fourth quarter worth $279,000. Finally, Principal Financial Group Inc. increased its position in Pathward Financial by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 120,731 shares of the savings and loans company's stock worth $8,883,000 after buying an additional 2,816 shares during the last quarter. Institutional investors own 92.66% of the company's stock.

Insider Transactions at Pathward Financial

In related news, 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 transaction of $317,320.00. Following the sale, the director now owns 6,153 shares of the company's stock, valued at approximately $488,117.49. This represents a 39.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brett L. Pharr sold 10,365 shares of the firm's stock in a transaction 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 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. The trade was a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,882 shares of company stock valued at $1,403,123 over the last three months. Company insiders own 1.23% of the company's stock.

Pathward Financial Stock Performance

NASDAQ:CASH traded up $0.21 on Friday, reaching $73.12. 371,536 shares of the company's stock were exchanged, compared to its average volume of 195,453. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 9.87 and a beta of 0.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. The stock has a fifty day simple moving average of $77.40 and a 200-day simple moving average of $76.41. Pathward Financial, Inc. has a 52 week low of $54.21 and a 52 week high of $86.00.

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 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 analysts' expectations of $256.30 million. Pathward Financial had a net margin of 22.69% and a return on equity of 22.50%. During the same period in the prior year, the company posted $2.56 EPS. As a group, sell-side analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, June 13th. Pathward Financial's payout ratio is currently 2.70%.

Wall Street Analyst Weigh In

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

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.