State of Tennessee Department of Treasury Acquires 3,514 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

State of Tennessee Department of Treasury increased its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 49.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,586 shares of the savings and loans company's stock after acquiring an additional 3,514 shares during the period. State of Tennessee Department of Treasury's holdings in Pathward Financial were worth $779,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. bought a new stake in Pathward Financial during the fourth quarter valued at approximately $3,734,999,000. Revolve Wealth Partners LLC bought a new position in Pathward Financial in the 4th quarter worth $267,437,000. FMR LLC lifted its position in Pathward Financial by 7.4% during 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 in the last quarter. Geode Capital Management LLC increased its position in 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 worth $52,365,000 after buying an additional 11,654 shares in the last quarter. Finally, American Century Companies Inc. lifted 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 valued at $47,323,000 after buying an additional 62,931 shares in the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Pathward Financial Price Performance

Shares of Pathward Financial stock traded down $0.16 during trading hours on Thursday, hitting $81.84. The company's stock had a trading volume of 19,606 shares, compared to its average volume of 195,317. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. Pathward Financial, Inc. has a 12-month low of $51.97 and a 12-month high of $86.00. The business has a 50 day moving average price of $73.56 and a two-hundred day moving average price of $76.43. The company has a market cap of $1.95 billion, a PE ratio of 11.93 and a beta of 0.64.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share for the quarter, topping 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 firm had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. During the same period in the previous year, the firm posted $2.56 EPS. Analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

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

Insider Activity at Pathward Financial

In related news, Director Douglas J. Hajek sold 1,850 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $79.26, for a total value of $146,631.00. Following the transaction, the director now owns 19,631 shares of the company's stock, valued at $1,555,953.06. This trade represents a 8.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 directly owns 6,153 shares of the company's stock, 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 sold a total of 17,882 shares of company stock worth $1,403,123 in the last quarter. 1.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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 report on Wednesday, April 23rd.

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.