Teacher Retirement System of Texas Has $1.06 Million Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Teacher Retirement System of Texas decreased its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 68.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,521 shares of the savings and loans company's stock after selling 30,949 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Pathward Financial worth $1,059,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Pathward Financial by 1,023.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company's stock valued at $5,799,000 after acquiring an additional 71,458 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Pathward Financial by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 235,005 shares of the savings and loans company's stock valued at $17,144,000 after acquiring an additional 6,305 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Pathward Financial during the first quarter valued at $572,000. GAMMA Investing LLC raised its stake in shares of 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 valued at $3,342,000 after acquiring an additional 45,308 shares during the last quarter. Finally, Natixis Advisors LLC bought a new position in shares of Pathward Financial during the fourth quarter valued at $1,739,000. Institutional investors own 92.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Pathward Financial from $86.00 to $88.00 and gave the stock a "market perform" rating in a research note on Friday, July 11th.

Insider Activity at Pathward Financial

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 shares were sold at an average price of $79.26, for a total value of $146,631.00. Following the completion of the sale, the director directly owned 19,631 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett L. Pharr sold 10,365 shares of the firm's stock in a transaction on Friday, April 25th. The stock was 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 owned 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 three months, insiders have sold 17,882 shares of company stock valued at $1,403,123. Company insiders own 1.23% of the company's stock.

Pathward Financial Trading Up 1.3%

NASDAQ CASH traded up $1.05 during mid-day trading on Thursday, reaching $82.59. 147,887 shares of the stock were exchanged, compared to its average volume of 196,808. Pathward Financial, Inc. has a one year low of $60.42 and a one year high of $86.00. The stock has a 50 day simple moving average of $79.04 and a 200-day simple moving average of $76.74. The stock has a market cap of $1.97 billion, a P/E ratio of 11.15 and a beta of 0.62. 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 announced its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 22.69% and a return on equity of 22.50%. During the same quarter last year, the firm earned $2.56 earnings per share. On average, analysts anticipate that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Friday, June 13th. Pathward Financial's payout ratio is 2.70%.

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.