Public Sector Pension Investment Board Lowers Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Public Sector Pension Investment Board decreased its position in Pathward Financial, Inc. (NASDAQ:CASH) by 30.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,556 shares of the savings and loans company’s stock after selling 99,248 shares during the quarter. Public Sector Pension Investment Board owned 0.90% of Pathward Financial worth $12,929,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Pathward Financial in the second quarter valued at approximately $615,000. XTX Topco Ltd purchased a new position in shares of Pathward Financial in the 2nd quarter valued at about $415,000. American Century Companies Inc. raised its holdings in Pathward Financial by 20.4% in the second quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock valued at $28,551,000 after acquiring an additional 85,566 shares in the last quarter. Mawer Investment Management Ltd. purchased a new position in Pathward Financial in the second quarter worth approximately $12,376,000. Finally, Texas Permanent School Fund Corp grew its holdings in Pathward Financial by 34.3% during the 2nd quarter. Texas Permanent School Fund Corp now owns 29,952 shares of the savings and loans company’s stock worth $1,694,000 after acquiring an additional 7,643 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pathward Financial

In related news, Director Douglas J. Hajek sold 2,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,267,757.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $66.40, for a total transaction of $205,840.00. Following the transaction, the president now directly owns 30,046 shares in the company, valued at $1,995,054.40. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CASH shares. Piper Sandler lifted their price objective 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. Keefe, Bruyette & Woods increased their price objective on 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 Stock Down 1.1 %

CASH opened at $66.61 on Tuesday. The business’s 50-day simple moving average is $65.52 and its 200-day simple moving average is $57.24. The stock has a market capitalization of $1.68 billion, a P/E ratio of 10.00 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.73. Pathward Financial, Inc. has a one year low of $41.79 and a one year high of $69.63.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings data on Wednesday, July 24th. The savings and loans company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. The firm had revenue of $176.73 million during the quarter, compared to the consensus estimate of $176.63 million. Pathward Financial had a return on equity of 23.59% and a net margin of 22.10%. During the same period in the prior year, the business earned $1.76 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that Pathward Financial, Inc. will post 6.87 EPS for the current year.

Pathward Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.20 annualized dividend and a yield of 0.30%. Pathward Financial’s dividend payout ratio is currently 3.00%.

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.