Stifel Financial Corp Sells 1,920 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Stifel Financial Corp lowered its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 20.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,612 shares of the savings and loans company’s stock after selling 1,920 shares during the quarter. Stifel Financial Corp’s holdings in Pathward Financial were worth $502,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Pathward Financial by 6.9% in the 3rd quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock valued at $135,471,000 after purchasing an additional 132,067 shares during the period. American Century Companies Inc. boosted its stake in Pathward Financial by 20.4% in 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 buying an additional 85,566 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pathward Financial by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,413 shares of the savings and loans company’s stock valued at $21,679,000 after buying an additional 1,733 shares in the last quarter. Mawer Investment Management Ltd. grew its position in Pathward Financial by 3.2% in the third quarter. Mawer Investment Management Ltd. now owns 225,815 shares of the savings and loans company’s stock valued at $14,906,000 after acquiring an additional 7,049 shares during the period. Finally, Elgethun Capital Management raised its stake in Pathward Financial by 1.9% during the second quarter. Elgethun Capital Management now owns 193,747 shares of the savings and loans company’s stock worth $10,960,000 after acquiring an additional 3,681 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Stock Up 0.5 %

NASDAQ CASH opened at $75.22 on Friday. The stock’s 50 day simple moving average is $78.14 and its 200 day simple moving average is $68.51. Pathward Financial, Inc. has a one year low of $46.68 and a one year high of $86.00. The firm has a market cap of $1.81 billion, a PE ratio of 11.35 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63.

Pathward Financial (NASDAQ:CASH) last announced its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, topping 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 company had revenue of $167.90 million for the quarter, compared to analysts’ expectations of $167.20 million. During the same quarter in the prior year, the business earned $1.36 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, December 10th. Pathward Financial’s dividend payout ratio is presently 3.02%.

Analyst Upgrades and Downgrades

CASH has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler boosted their price target on shares of Pathward Financial from $82.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday.

Insider Transactions at Pathward Financial

In other news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $80.60, for a total transaction of $181,350.00. Following the completion of the sale, the chief financial officer now owns 9,644 shares in the company, valued at $777,306.40. The trade was a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.72% of the stock is owned by company 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.