Hsbc Holdings PLC Grows Position in Pathward Financial, Inc. (NASDAQ:CASH)

Hsbc Holdings PLC grew its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 83.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,039 shares of the savings and loans company's stock after buying an additional 5,927 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of Pathward Financial worth $967,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CASH. Smartleaf Asset Management LLC lifted its holdings 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 worth $41,000 after buying an additional 414 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Pathward Financial by 726.8% during 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 period. KBC Group NV boosted its holdings in Pathward Financial by 45.8% during the fourth quarter. KBC Group NV now owns 1,417 shares of the savings and loans company's stock worth $104,000 after purchasing an additional 445 shares during the last quarter. Bank of Montreal Can bought a new stake in Pathward Financial during the fourth quarter worth about $201,000. Finally, Pictet Asset Management Holding SA acquired a new position in Pathward Financial during the fourth quarter worth $210,000. Institutional investors own 92.66% of the company's stock.

Analyst Upgrades and Downgrades

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

Pathward Financial Trading Down 0.5 %

Shares of NASDAQ CASH traded down $0.45 during midday trading on Friday, reaching $82.27. The stock had a trading volume of 34,045 shares, compared to its average volume of 195,616. The company's 50 day moving average price is $73.70 and its 200 day moving average price is $76.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 11.99 and a beta of 0.64. Pathward Financial, Inc. has a twelve month low of $51.97 and a twelve month high of $86.00.

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 analysts' consensus estimates of $2.71 by $0.40. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The company had revenue of $262.90 million during the quarter, compared to analyst estimates of $256.30 million. During the same period in the prior year, the business posted $2.56 EPS. As a group, sell-side analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were issued a $0.05 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Pathward Financial's payout ratio is 2.70%.

Insiders Place Their Bets

In other Pathward Financial news, CAO Jennifer W. Warren sold 1,667 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $77.97, for a total value of $129,975.99. Following the completion of the sale, the chief accounting officer now owns 5,019 shares in the company, valued at approximately $391,331.43. This represents a 24.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kendall E. Stork sold 4,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total transaction of $317,320.00. Following the completion of the sale, the director now owns 6,153 shares in the company, valued at approximately $488,117.49. This trade represents a 39.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,882 shares of company stock worth $1,403,123 in the last three months. 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.