Texas Permanent School Fund Corp Boosts Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Texas Permanent School Fund Corp grew its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 34.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,952 shares of the savings and loans company’s stock after buying an additional 7,643 shares during the quarter. Texas Permanent School Fund Corp owned 0.12% of Pathward Financial worth $1,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CASH. Opal Wealth Advisors LLC purchased a new stake in Pathward Financial during the 2nd quarter worth approximately $25,000. Gladius Capital Management LP purchased a new position in shares of Pathward Financial during the second quarter worth about $31,000. EntryPoint Capital LLC purchased a new position in shares of Pathward Financial during the first quarter worth about $59,000. Arbor Capital Management Inc. ADV purchased a new position in shares of Pathward Financial during the second quarter worth about $182,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Pathward Financial by 10.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,843 shares of the savings and loans company’s stock worth $256,000 after buying an additional 441 shares during the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Pathward Financial Stock Down 0.2 %

Shares of NASDAQ:CASH opened at $67.78 on Thursday. Pathward Financial, Inc. has a 52 week low of $41.79 and a 52 week high of $69.63. 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 company has a market cap of $1.71 billion, a PE ratio of 10.18 and a beta of 0.68. The firm has a 50 day simple moving average of $65.06 and a 200 day simple moving average of $56.84.

Pathward Financial (NASDAQ:CASH) last issued its earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The business had revenue of $176.73 million for the quarter, compared to analyst estimates of $176.63 million. During the same period in the previous year, the business earned $1.76 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts expect that Pathward Financial, Inc. will post 6.87 earnings per share for the current year.

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Tuesday, September 10th. Pathward Financial’s dividend payout ratio is presently 3.00%.

Insider Buying and Selling

In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the company’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 owns 19,531 shares of the company’s stock, valued at $1,267,757.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pathward Financial news, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction on Friday, September 13th. The shares were 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 owns 30,046 shares in the company, valued at $1,995,054.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction 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 sale, the director now owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.