Victory Capital Management Inc. Buys 18,708 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Victory Capital Management Inc. increased its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 384.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,572 shares of the savings and loans company’s stock after purchasing an additional 18,708 shares during the period. Victory Capital Management Inc. owned approximately 0.09% of Pathward Financial worth $1,556,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CASH. Opal Wealth Advisors LLC acquired a new position in shares of Pathward Financial in the 2nd quarter valued at approximately $25,000. Quarry LP boosted its holdings in shares of Pathward Financial by 419.0% in the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after purchasing an additional 419 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Pathward Financial in the 3rd quarter valued at $29,000. Gladius Capital Management LP acquired a new position in shares of Pathward Financial during the 2nd quarter worth $31,000. Finally, USA Financial Formulas bought a new stake in shares of Pathward Financial during the 3rd quarter worth $56,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Insider Activity at Pathward Financial

In other news, President Anthony M. Sharett sold 3,100 shares of the company’s 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 sale, the president now directly owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. This represents a 9.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Douglas J. Hajek sold 2,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the sale, the director now owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. This trade represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,350 shares of company stock worth $517,010 over the last three months. Company insiders own 0.72% of the company’s stock.

Pathward Financial Stock Up 1.7 %

Shares of NASDAQ:CASH opened at $84.29 on Tuesday. Pathward Financial, Inc. has a 52-week low of $46.68 and a 52-week high of $86.00. The company has a market capitalization of $2.11 billion, a PE ratio of 12.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. The company has a fifty day moving average of $72.57 and a 200-day moving average of $64.49.

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

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Pathward Financial’s dividend payout ratio (DPR) is presently 3.02%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their target price on Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th.

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.