SG Americas Securities LLC Makes New Investment in Pathward Financial, Inc. (NASDAQ:CASH)

SG Americas Securities LLC purchased a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,843 shares of the savings and loans company's stock, valued at approximately $572,000.

Several other large investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its position in shares of Pathward Financial by 36.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 9,085 shares of the savings and loans company's stock worth $663,000 after buying an additional 2,419 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Pathward Financial in the 1st quarter valued at about $236,000. Wedge Capital Management L L P NC boosted its position in shares of Pathward Financial by 16.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 14,523 shares of the savings and loans company's stock valued at $1,059,000 after purchasing an additional 2,035 shares during the period. GAMMA Investing LLC boosted its position in shares of Pathward Financial by 8,971.9% in 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 purchasing an additional 45,308 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in shares of Pathward Financial in the 4th quarter valued at about $32,223,000. Hedge funds and other institutional investors own 92.66% of the company's stock.

Pathward Financial Stock Performance

Shares of CASH stock traded up $0.19 during midday trading on Tuesday, hitting $76.36. The company had a trading volume of 119,274 shares, compared to its average volume of 195,376. The company's 50 day simple moving average is $77.54 and its 200 day simple moving average is $76.30. Pathward Financial, Inc. has a 52-week low of $54.71 and a 52-week high of $86.00. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 10.31 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.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS 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 analysts' expectations 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 last year, the firm earned $2.56 EPS. Research analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.26%. Pathward Financial's dividend payout ratio is currently 2.70%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Pathward Financial news, Director Douglas J. Hajek sold 1,850 shares of the firm'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 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 filing with the SEC, which is accessible through this link. Also, Director Kendall E. Stork sold 4,000 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.33, for a total value of $317,320.00. Following the transaction, the director now directly owns 6,153 shares of the company's stock, valued at $488,117.49. The trade was a 39.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,882 shares of company stock valued at $1,403,123 in the last three months. 1.23% of the stock is currently owned by company 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.