Rhumbline Advisers Has $4.92 Million Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Rhumbline Advisers trimmed its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,407 shares of the savings and loans company's stock after selling 4,277 shares during the quarter. Rhumbline Advisers owned about 0.28% of Pathward Financial worth $4,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its position in Pathward Financial by 8,971.9% during the first quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company's stock worth $3,342,000 after acquiring an additional 45,308 shares during the period. Putney Financial Group LLC bought a new position in Pathward Financial during the fourth quarter worth $32,223,000. Squarepoint Ops LLC increased its position in Pathward Financial by 317.3% during the fourth quarter. Squarepoint Ops LLC now owns 26,833 shares of the savings and loans company's stock worth $1,974,000 after acquiring an additional 20,403 shares during the period. Two Sigma Advisers LP increased its position in Pathward Financial by 4.5% during 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 acquiring an additional 5,600 shares during the period. Finally, ProShare Advisors LLC increased its position in Pathward Financial by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 7,571 shares of the savings and loans company's stock worth $557,000 after acquiring an additional 2,329 shares during the period. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Trading Down 2.1%

Shares of Pathward Financial stock opened at $74.37 on Friday. The firm has a market capitalization of $1.77 billion, a PE ratio of 10.84 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 company's fifty day moving average price is $76.94 and its two-hundred day moving average price is $76.83. Pathward Financial, Inc. has a 52-week low of $51.98 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.40. The firm had revenue of $262.90 million for the quarter, compared to analyst estimates 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 previous year, the firm posted $2.56 EPS. On average, analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The company 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 0.27%. The ex-dividend date is Friday, June 13th. Pathward Financial's payout ratio is 2.70%.

Insider Transactions at Pathward Financial

In related news, CAO Jennifer W. Warren sold 1,667 shares of the company's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $77.97, for a total transaction of $129,975.99. Following the transaction, the chief accounting officer now owns 5,019 shares in the company, valued at $391,331.43. This represents a 24.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kendall E. Stork sold 4,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.33, for a total transaction of $317,320.00. Following the transaction, the director now owns 6,153 shares in the company, valued at approximately $488,117.49. This trade represents a 39.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,882 shares of company stock valued at $1,403,123. 1.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the stock 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.

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