JPMorgan Chase & Co. Sells 17,668 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

JPMorgan Chase & Co. decreased its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,907 shares of the savings and loans company’s stock after selling 17,668 shares during the period. JPMorgan Chase & Co. owned about 1.55% of Pathward Financial worth $24,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP grew its stake in Pathward Financial by 419.0% in the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock worth $29,000 after acquiring an additional 419 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Pathward Financial in the third quarter valued at approximately $29,000. Point72 DIFC Ltd bought a new position in Pathward Financial in the third quarter worth approximately $35,000. USA Financial Formulas purchased a new position in Pathward Financial during the 3rd quarter worth $56,000. Finally, nVerses Capital LLC purchased a new position in Pathward Financial during the 3rd quarter worth $79,000. 92.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CASH. Keefe, Bruyette & Woods increased their target price on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler lifted their price objective on shares of Pathward Financial from $82.00 to $94.00 and gave the company an “overweight” rating in a report on Monday, December 23rd.

Pathward Financial Stock Up 0.0 %

Shares of CASH stock opened at $74.48 on Thursday. 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. The firm has a market capitalization of $1.80 billion, a PE ratio of 11.23 and a beta of 0.72. The stock’s 50-day simple moving average is $78.51 and its 200-day simple moving average is $69.90.

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

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. Pathward Financial’s dividend payout ratio is currently 3.02%.

Insider Buying and Selling

In other news, CFO Greg Sigrist sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $80.60, for a total value of $181,350.00. Following the completion of the sale, the chief financial officer now directly owns 9,644 shares in the company, valued at $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.72% of the company’s stock.

Pathward Financial Company 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.