Nantahala Capital Management LLC Lowers Stock Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Nantahala Capital Management LLC cut its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 47.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 541,433 shares of the savings and loans company’s stock after selling 480,294 shares during the quarter. Pathward Financial makes up approximately 1.8% of Nantahala Capital Management LLC’s portfolio, making the stock its 7th largest holding. Nantahala Capital Management LLC owned 2.14% of Pathward Financial worth $30,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Pathward Financial by 4.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,583,602 shares of the savings and loans company’s stock worth $83,820,000 after purchasing an additional 69,374 shares during the period. American Century Companies Inc. grew its position in shares of Pathward Financial by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock valued at $28,551,000 after purchasing an additional 85,566 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Pathward Financial in the first quarter worth $17,819,000. Epoch Investment Partners Inc. raised its position in shares of Pathward Financial by 7.8% in the first quarter. Epoch Investment Partners Inc. now owns 269,425 shares of the savings and loans company’s stock worth $13,601,000 after buying an additional 19,539 shares in the last quarter. Finally, Mawer Investment Management Ltd. bought a new stake in Pathward Financial during the second quarter valued at $12,376,000. Institutional investors own 92.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Piper Sandler boosted their price objective on shares of Pathward Financial from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th.

Insider Buying and Selling at Pathward Financial

In related news, 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 completion of the sale, the president now owns 30,046 shares in the company, valued at $1,995,054.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.40, for a total value of $205,840.00. Following the transaction, the president now owns 30,046 shares of the company’s stock, valued at $1,995,054.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas J. Hajek sold 2,000 shares of the business’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 transaction, the director now owns 19,531 shares in the company, valued at $1,267,757.21. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Pathward Financial Stock Up 1.2 %

NASDAQ:CASH opened at $66.01 on Tuesday. 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 firm has a market cap of $1.67 billion, a P/E ratio of 9.91 and a beta of 0.68. Pathward Financial, Inc. has a fifty-two week low of $41.79 and a fifty-two week high of $69.63. The firm has a 50-day simple moving average of $65.62 and a two-hundred day simple moving average of $57.66.

Pathward Financial (NASDAQ:CASH) last issued its earnings results 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 business had revenue of $176.73 million for 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%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $1.76 EPS. Analysts predict that Pathward Financial, Inc. will post 6.87 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

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

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.