Putney Financial Group LLC Acquires New Position in Pathward Financial, Inc. (NASDAQ:CASH)

Putney Financial Group LLC bought a new position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 437,937 shares of the savings and loans company's stock, valued at approximately $32,223,000. Pathward Financial accounts for approximately 22.4% of Putney Financial Group LLC's investment portfolio, making the stock its largest holding. Putney Financial Group LLC owned 1.84% of Pathward Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in Pathward Financial by 302.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company's stock valued at $41,000 after purchasing an additional 414 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Pathward Financial by 726.8% in the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock worth $43,000 after acquiring an additional 516 shares during the period. KBC Group NV grew its position in Pathward Financial by 45.8% during the fourth quarter. KBC Group NV now owns 1,417 shares of the savings and loans company's stock valued at $104,000 after buying an additional 445 shares during the period. Bank of Montreal Can bought a new stake in Pathward Financial during the fourth quarter valued at approximately $201,000. Finally, AXA S.A. bought a new stake in Pathward Financial during the fourth quarter valued at approximately $203,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Pathward Financial Price Performance

NASDAQ:CASH traded down $1.04 during trading hours on Wednesday, hitting $77.25. 202,934 shares of the stock traded hands, compared to its average volume of 196,912. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 1 year low of $51.97 and a 1 year high of $86.00. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 11.26 and a beta of 0.64. The stock has a 50 day moving average price of $75.77 and a 200 day moving average price of $77.18.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.40. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The business had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. During the same quarter in the previous year, the firm earned $2.56 earnings per share. Sell-side analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, June 13th. Pathward Financial's dividend payout ratio (DPR) is presently 2.70%.

Insider Transactions at Pathward Financial

In other news, Director Kendall E. Stork sold 4,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total value of $317,320.00. Following the transaction, the director now owns 6,153 shares of the company's stock, valued at approximately $488,117.49. The trade was a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas J. Hajek sold 1,850 shares of the business's stock in a transaction on Friday, April 25th. The stock was sold at an average price of $79.26, for a total transaction of $146,631.00. Following the completion of the transaction, the director now directly owns 19,631 shares in the company, valued at $1,555,953.06. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,882 shares of company stock valued at $1,403,123. 1.23% of the stock is currently owned by corporate insiders.

Pathward Financial 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.