Rhumbline Advisers Cuts Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

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

A number of other hedge funds and other institutional investors have also modified their holdings of CASH. Pinnacle Wealth Planning Services Inc. acquired a new stake in Pathward Financial in the fourth quarter valued at $3,734,999,000. Natixis Advisors LLC purchased a new position in shares of Pathward Financial in the 4th quarter valued at about $1,739,000. GAMMA Investing LLC raised 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 worth $3,342,000 after acquiring an additional 45,308 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Pathward Financial during the fourth quarter worth approximately $32,223,000. Finally, Raymond James Financial Inc. acquired a new position in Pathward Financial in the fourth quarter valued at approximately $279,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Stock Performance

CASH traded down $0.81 on Tuesday, reaching $73.34. The company had a trading volume of 108,337 shares, compared to its average volume of 195,820. 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 $53.11 and a 1 year high of $86.00. The stock has a market capitalization of $1.75 billion, a PE ratio of 9.90 and a beta of 0.63. The stock has a 50-day moving average price of $77.13 and a 200-day moving average price of $76.64.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its 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. The business had revenue of $262.90 million during the quarter, compared to the consensus estimate of $256.30 million. Pathward Financial had a return on equity of 22.50% and a net margin of 22.69%. During the same period in the previous year, the business earned $2.56 EPS. As a group, research analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity

In other Pathward Financial news, CAO Jennifer W. Warren sold 1,667 shares of Pathward Financial stock in a transaction on Friday, April 25th. The shares were sold at an average price of $77.97, for a total value of $129,975.99. Following the transaction, the chief accounting officer now directly owns 5,019 shares in the company, valued at approximately $391,331.43. The trade was a 24.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett L. Pharr sold 10,365 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 69,750 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 17,882 shares of company stock valued at $1,403,123. 1.23% of the stock is currently owned by company insiders.

Pathward Financial Company 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.