Summit Global Investments Purchases Shares of 24,415 Pathward Financial, Inc. (NASDAQ:CASH)

Summit Global Investments bought a new position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,415 shares of the savings and loans company's stock, valued at approximately $1,292,000. Summit Global Investments owned about 0.09% of Pathward Financial at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CASH. Kennicott Capital Management LLC purchased a new stake in Pathward Financial in the fourth quarter worth about $35,000. Carmel Capital Partners LLC bought a new position in Pathward Financial in the third quarter worth $36,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Pathward Financial by 170.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,696 shares of the savings and loans company's stock valued at $78,000 after buying an additional 1,070 shares in the last quarter. Cottage Street Advisors LLC grew its position in shares of Pathward Financial by 60.9% in the 4th quarter. Cottage Street Advisors LLC now owns 2,114 shares of the savings and loans company's stock worth $112,000 after buying an additional 800 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Pathward Financial by 24.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company's stock worth $134,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 92.66% of the company's stock.

Pathward Financial Stock Up 1.5 %

CASH stock traded up $0.79 during trading on Friday, hitting $52.93. 124,284 shares of the stock traded hands, compared to its average volume of 146,890. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 7.95 and a beta of 0.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71. Pathward Financial, Inc. has a 1 year low of $41.34 and a 1 year high of $60.49. The firm's 50 day moving average is $50.06 and its two-hundred day moving average is $50.25.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.19. The firm had revenue of $247.25 million for the quarter, compared to analysts' expectations of $240.46 million. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.18 earnings per share. On average, sell-side analysts anticipate that Pathward Financial, Inc. will post 6.43 EPS for the current year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.38%. Pathward Financial's payout ratio is 3.00%.

Wall Street Analysts Forecast Growth

CASH has been the topic of a number of recent research reports. Piper Sandler cut their price objective on shares of Pathward Financial from $69.00 to $68.00 and set an "overweight" rating on the stock in a report on Thursday, January 25th. Keefe, Bruyette & Woods cut their price target on Pathward Financial from $60.00 to $58.00 and set a "market perform" rating on the stock in a research note on Friday, April 5th.

Insider Activity

In related news, President Anthony M. Sharett sold 1,000 shares of the company's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the sale, the president now owns 33,146 shares in the company, valued at $1,574,435. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate 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.