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

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

A number of other hedge funds have also modified their holdings of the stock. Revolve Wealth Partners LLC acquired a new position in Pathward Financial during the fourth quarter worth $267,437,000. FMR LLC grew its position in shares of Pathward Financial by 7.4% in the fourth quarter. FMR LLC now owns 2,203,603 shares of the savings and loans company's stock valued at $162,141,000 after purchasing an additional 151,316 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Pathward Financial by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 711,538 shares of the savings and loans company's stock valued at $52,365,000 after purchasing an additional 11,654 shares during the last quarter. American Century Companies Inc. grew its position in shares of Pathward Financial by 10.8% in the fourth quarter. American Century Companies Inc. now owns 643,150 shares of the savings and loans company's stock valued at $47,323,000 after purchasing an additional 62,931 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Pathward Financial by 52.2% in the fourth quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company's stock valued at $41,885,000 after purchasing an additional 195,331 shares during the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Stock Performance

Shares of NASDAQ CASH traded down $0.14 during mid-day trading on Tuesday, hitting $83.49. The company had a trading volume of 10,958 shares, compared to its average volume of 197,799. 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 business's 50-day simple moving average is $79.05 and its 200-day simple moving average is $76.67. Pathward Financial, Inc. has a 12 month low of $59.58 and a 12 month high of $86.00. The firm has a market cap of $1.99 billion, a P/E ratio of 11.26 and a beta of 0.62.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released 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 analysts' expectations 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 company earned $2.56 earnings per share. As a group, analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Pathward Financial's dividend payout ratio (DPR) is presently 2.70%.

Analyst Upgrades and Downgrades

CASH has been the topic of several research analyst reports. Piper Sandler raised their price target on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods increased their target price on shares of Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a research note on Friday.

Insider Buying and Selling

In related news, 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 completion of the transaction, the director owned 6,153 shares in the company, valued at $488,117.49. This trade represents a 39.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer W. Warren sold 1,667 shares of the firm'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 transaction, the chief accounting officer owned 5,019 shares of the company's stock, valued at $391,331.43. This trade represents a 24.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,882 shares of company stock worth $1,403,123 over the last 90 days. Corporate insiders own 1.23% of the company's stock.

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.