Principal Financial Group Inc. Sells 7,036 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Principal Financial Group Inc. decreased its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,915 shares of the savings and loans company’s stock after selling 7,036 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Pathward Financial worth $7,784,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CASH. Opal Wealth Advisors LLC acquired a new stake in Pathward Financial in the 2nd quarter worth $25,000. Quarry LP increased its stake in Pathward Financial by 419.0% during the second quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after acquiring an additional 419 shares during the period. Financial Management Professionals Inc. acquired a new position in Pathward Financial in the 3rd quarter valued at approximately $29,000. Gladius Capital Management LP bought a new stake in shares of Pathward Financial in the 2nd quarter worth approximately $31,000. Finally, USA Financial Formulas bought a new stake in shares of Pathward Financial in the 3rd quarter worth approximately $56,000. Institutional investors own 92.66% of the company’s stock.

Insider Activity at Pathward Financial

In other news, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.40, for a total value 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 9.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Douglas J. Hajek sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the transaction, the director now owns 19,531 shares in the company, valued at approximately $1,267,757.21. This trade represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,350 shares of company stock valued at $517,010 in the last ninety days. Insiders own 0.72% of the company’s stock.

Pathward Financial Stock Down 0.3 %

Shares of CASH opened at $78.97 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $71.06 and a two-hundred day moving average price of $63.51. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 11.98 and a beta of 0.67. Pathward Financial, Inc. has a 12 month low of $46.68 and a 12 month high of $83.83.

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The business had revenue of $167.90 million during the quarter, compared to the consensus estimate of $167.20 million. During the same quarter last year, the company earned $1.36 EPS. Pathward Financial’s revenue was up 4.4% on a year-over-year basis. Equities analysts predict that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date was Tuesday, September 10th. Pathward Financial’s dividend payout ratio is currently 3.02%.

Wall Street Analyst Weigh In

CASH has been the subject of a number of recent research reports. Piper Sandler upped their target price on Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on shares of Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a report on Thursday, July 25th.

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.