Wealth Enhancement Advisory Services LLC Raises Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,005 shares of the savings and loans company's stock after acquiring an additional 6,305 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.99% of Pathward Financial worth $17,144,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CASH. Smartleaf Asset Management LLC lifted its position in Pathward Financial by 302.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company's stock valued at $41,000 after acquiring an additional 414 shares during the period. Sterling Capital Management LLC raised its holdings in Pathward Financial by 726.8% in the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock worth $43,000 after buying an additional 516 shares during the last quarter. Bank of Montreal Can purchased a new position in Pathward Financial in the fourth quarter worth about $201,000. AXA S.A. purchased a new position in Pathward Financial in the fourth quarter worth about $203,000. Finally, Pictet Asset Management Holding SA purchased a new position in Pathward Financial in the fourth quarter worth about $210,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Pathward Financial Stock Performance

Shares of NASDAQ CASH opened at $73.12 on Monday. The firm has a 50 day moving average of $77.40 and a 200 day moving average of $76.36. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 9.87 and a beta of 0.63. Pathward Financial, Inc. has a 12-month low of $54.21 and a 12-month high of $86.00.

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 (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.40. The company had revenue of $262.90 million during the quarter, compared to analyst estimates 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 business posted $2.56 earnings per share. On average, research analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given 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 dividend yield of 0.27%. Pathward Financial's dividend payout ratio is 2.70%.

Wall Street Analysts Forecast Growth

Separately, 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 report on Wednesday, April 23rd.

Insider Buying and Selling

In other news, CEO Brett L. Pharr sold 10,365 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $78.07, for a total value of $809,195.55. Following the sale, the chief executive officer now owns 69,750 shares of the company's stock, valued at approximately $5,445,382.50. This represents a 12.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer W. Warren sold 1,667 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $77.97, for a total transaction of $129,975.99. Following the completion of the sale, the chief accounting officer now directly owns 5,019 shares in the company, valued at approximately $391,331.43. This represents a 24.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,882 shares of company stock worth $1,403,123. 1.23% of the stock is owned by 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.

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