HighTower Advisors LLC Buys 393 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

HighTower Advisors LLC boosted its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,032 shares of the savings and loans company’s stock after purchasing an additional 393 shares during the quarter. HighTower Advisors LLC’s holdings in Pathward Financial were worth $397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in shares of Pathward Financial in the 3rd quarter valued at approximately $29,000. Quarry LP raised its position 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 purchasing an additional 419 shares in the last quarter. USA Financial Formulas acquired a new position in Pathward Financial during the third quarter valued at approximately $56,000. nVerses Capital LLC bought a new stake in Pathward Financial during the third quarter worth $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pathward Financial in the 3rd quarter valued at $94,000. Institutional investors own 92.66% of the company’s stock.

Analysts Set New Price Targets

CASH has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their target price on Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling

In other news, CFO Greg Sigrist sold 2,250 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.60, for a total transaction of $181,350.00. Following the completion of the transaction, the chief financial officer now owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

Pathward Financial Stock Performance

NASDAQ CASH opened at $73.62 on Monday. The firm’s fifty day moving average price is $78.09 and its two-hundred day moving average price is $68.18. The stock has a market cap of $1.78 billion, a PE ratio of 11.10 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $86.00.

Pathward Financial (NASDAQ:CASH) last issued its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $167.20 million. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. Pathward Financial’s dividend payout ratio (DPR) is presently 3.02%.

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.