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

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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Revolve Wealth Partners LLC bought a new position in Pathward Financial in the fourth quarter valued at approximately $267,437,000. Principal Financial Group Inc. grew its stake in shares of Pathward Financial by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 120,731 shares of the savings and loans company's stock valued at $8,883,000 after buying an additional 2,816 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Pathward Financial by 17.0% during the fourth quarter. Handelsbanken Fonder AB now owns 6,200 shares of the savings and loans company's stock worth $456,000 after buying an additional 900 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Pathward Financial by 302.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company's stock worth $41,000 after buying an additional 414 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Pathward Financial by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,455 shares of the savings and loans company's stock worth $24,388,000 after acquiring an additional 3,042 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company's stock.

Insider Buying and Selling

In other news, CAO Jennifer W. Warren sold 1,667 shares of the company's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $77.97, for a total value of $129,975.99. Following the completion of the transaction, the chief accounting officer now owns 5,019 shares of the company's stock, valued at $391,331.43. This represents a 24.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kendall E. Stork sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.33, for a total transaction of $317,320.00. Following the sale, the director now directly owns 6,153 shares of the company's stock, 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. Over the last quarter, insiders have sold 17,882 shares of company stock worth $1,403,123. Company insiders own 1.23% of the company's stock.

Wall Street Analysts Forecast Growth

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

Pathward Financial Stock Performance

NASDAQ:CASH traded up $1.96 on Thursday, hitting $78.96. The company's stock had a trading volume of 176,279 shares, compared to its average volume of 195,749. Pathward Financial, Inc. has a one year low of $55.86 and a one year high of $86.00. The firm has a market capitalization of $1.88 billion, a P/E ratio of 10.66 and a beta of 0.63. The stock has a fifty day moving average of $77.79 and a two-hundred day moving average of $76.31. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. Pathward Financial had a net margin of 22.69% and a return on equity of 22.50%. During the same period in the previous year, the company earned $2.56 earnings per share. Research analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The business 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 dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Pathward Financial's dividend payout ratio (DPR) is presently 2.70%.

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.