Raymond James Financial Inc. Invests $279,000 in Pathward Financial, Inc. (NASDAQ:CASH)

Raymond James Financial Inc. purchased a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,789 shares of the savings and loans company's stock, valued at approximately $279,000.

Several other hedge funds have also recently made changes to their positions in the business. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Pathward Financial during the 4th quarter valued at about $3,734,999,000. Revolve Wealth Partners LLC acquired a new position in Pathward Financial in the fourth quarter valued at approximately $267,437,000. FMR LLC boosted its holdings in shares of Pathward Financial by 7.4% during the 4th quarter. FMR LLC now owns 2,203,603 shares of the savings and loans company's stock worth $162,141,000 after buying an additional 151,316 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Pathward Financial by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 711,538 shares of the savings and loans company's stock worth $52,365,000 after buying an additional 11,654 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Pathward Financial by 10.8% during the 4th quarter. American Century Companies Inc. now owns 643,150 shares of the savings and loans company's stock worth $47,323,000 after buying an additional 62,931 shares during the period. 92.66% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Douglas J. Hajek sold 1,850 shares of Pathward Financial stock in a transaction on Friday, April 25th. The stock was sold at an average price of $79.26, for a total transaction of $146,631.00. Following the sale, the director now directly owns 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 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 firm's stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $77.97, for a total transaction of $129,975.99. Following the sale, the chief accounting officer now owns 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 sold a total of 17,882 shares of company stock worth $1,403,123 over the last quarter. Insiders own 1.23% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased 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.

Pathward Financial Stock Down 1.4%

NASDAQ:CASH traded down $1.12 on Wednesday, hitting $80.88. The stock had a trading volume of 148,746 shares, compared to its average volume of 196,506. The company has a market cap of $1.93 billion, a PE ratio of 11.79 and a beta of 0.64. Pathward Financial, Inc. has a 52 week low of $51.97 and a 52 week high of $86.00. The business's fifty day moving average is $74.25 and its 200 day moving average is $76.77. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced 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. The business had revenue of $262.90 million during the quarter, compared to analyst estimates of $256.30 million. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. During the same quarter in the previous year, the business posted $2.56 EPS. On average, equities research analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 13th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Thursday, March 13th. Pathward Financial's payout ratio is currently 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.