Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,684 shares of the savings and loans company’s stock after selling 606 shares during the quarter. Rhumbline Advisers owned 0.30% of Pathward Financial worth $5,274,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in shares of Pathward Financial in the third quarter worth approximately $476,000. Foundry Partners LLC lifted its stake in shares of Pathward Financial by 59.3% in the third quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company’s stock worth $8,678,000 after buying an additional 48,917 shares in the last quarter. Geode Capital Management LLC boosted its position in Pathward Financial by 2.8% during the third quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company’s stock worth $46,206,000 after acquiring an additional 18,936 shares during the last quarter. Meritage Portfolio Management purchased a new stake in Pathward Financial during the 4th quarter valued at about $435,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Pathward Financial in the 4th quarter valued at about $10,865,000. 92.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CASH shares. 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 report on Wednesday, December 4th. Piper Sandler cut their target price on Pathward Financial from $94.00 to $91.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd.

Pathward Financial Price Performance

NASDAQ:CASH opened at $77.10 on Friday. The company has a market capitalization of $1.84 billion, a P/E ratio of 11.24 and a beta of 0.73. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 52 week low of $46.68 and a 52 week high of $86.00. The stock’s fifty day moving average is $77.31 and its two-hundred day moving average is $74.18.

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The company had revenue of $173.51 million for the quarter, compared to analysts’ expectations of $173.27 million. Pathward Financial’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 earnings per share. Equities analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.26%. Pathward Financial’s payout ratio is 2.92%.

About Pathward Financial

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.