The Manufacturers Life Insurance Company Buys 315 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

The Manufacturers Life Insurance Company lifted its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,803 shares of the savings and loans company’s stock after purchasing an additional 315 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Pathward Financial worth $724,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CASH. Opal Wealth Advisors LLC bought a new position in shares of Pathward Financial in the second quarter worth $25,000. Gladius Capital Management LP purchased a new stake in shares of Pathward Financial in the 2nd quarter worth approximately $31,000. EntryPoint Capital LLC purchased a new stake in Pathward Financial during the 1st quarter valued at $59,000. Arbor Capital Management Inc. ADV bought a new position in shares of Pathward Financial during the 2nd quarter valued at $182,000. Finally, Virtu Financial LLC bought a new position in shares of Pathward Financial during the 4th quarter valued at $262,000. Institutional investors own 92.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CASH. Keefe, Bruyette & Woods increased their price target on Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler lifted their price target on shares of Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th.

Insiders Place Their Bets

In related news, Director Douglas J. Hajek sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total value of $129,820.00. Following the completion of the sale, the director now directly owns 19,531 shares in the company, valued at approximately $1,267,757.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the sale, the president now directly owns 30,046 shares in the company, valued at approximately $1,995,054.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas J. Hajek sold 2,000 shares of Pathward Financial stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the transaction, the director now directly owns 19,531 shares in the company, valued at approximately $1,267,757.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Pathward Financial Trading Down 0.3 %

Shares of Pathward Financial stock opened at $73.74 on Tuesday. Pathward Financial, Inc. has a fifty-two week low of $41.79 and a fifty-two week high of $74.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.73. The firm has a 50-day simple moving average of $66.12 and a two-hundred day simple moving average of $59.15. The company has a market cap of $1.86 billion, a P/E ratio of 11.07 and a beta of 0.68.

Pathward Financial (NASDAQ:CASH) last released its earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The company had revenue of $176.73 million for the quarter, compared to analyst estimates of $176.63 million. During the same period in the prior year, the business earned $1.76 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities analysts predict that Pathward Financial, Inc. will post 6.54 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Tuesday, September 10th. Pathward Financial’s dividend payout ratio (DPR) is 3.00%.

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.