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

Putney Financial Group LLC cut its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 approximately 24.1% of Putney Financial Group LLC's investment portfolio, making the stock its biggest holding. Putney Financial Group LLC owned about 1.73% of Pathward Financial worth $30,017,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CASH. Cetera Investment Advisers lifted its stake in shares of Pathward Financial by 2.9% in the fourth quarter. Cetera Investment Advisers now owns 6,107 shares of the savings and loans company's stock valued at $449,000 after buying an additional 171 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Pathward Financial by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,271 shares of the savings and loans company's stock worth $968,000 after acquiring an additional 181 shares during the last quarter. Smartleaf Asset Management LLC lifted 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 valued at $41,000 after acquiring an additional 414 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Pathward Financial during the 1st quarter valued at about $35,000. Finally, Sterling Capital Management LLC increased its holdings in Pathward Financial by 726.8% during 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 in the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Stock Performance

CASH traded up $0.19 during trading on Tuesday, hitting $76.36. 119,274 shares of the company traded hands, compared to its average volume of 195,127. Pathward Financial, Inc. has a one year low of $54.21 and a one year high of $86.00. The stock's fifty day moving average is $77.54 and its 200 day moving average is $76.30. 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 firm has a market cap of $1.82 billion, a P/E ratio of 10.31 and a beta of 0.63.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS 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 analyst estimates 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 firm earned $2.56 earnings per share. As a group, equities analysts predict that Pathward Financial, Inc. will post 7.26 EPS 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 paid a $0.05 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. Pathward Financial's dividend payout ratio is presently 2.70%.

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, Director Douglas J. Hajek sold 1,850 shares of Pathward Financial stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $79.26, for a total transaction of $146,631.00. Following the transaction, the director now directly owns 19,631 shares of the company's stock, valued at approximately $1,555,953.06. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kendall E. Stork sold 4,000 shares of the stock in a transaction 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 transaction, the director now directly owns 6,153 shares in the company, valued at approximately $488,117.49. This represents a 39.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,882 shares of company stock worth $1,403,123 over the last 90 days. Corporate insiders own 1.23% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler raised their target price on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a 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.