Assenagon Asset Management S.A. Invests $10.87 Million in Pathward Financial, Inc. (NASDAQ:CASH)

Assenagon Asset Management S.A. bought a new position in Pathward Financial, Inc. (NASDAQ:CASH) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 147,660 shares of the savings and loans company’s stock, valued at approximately $10,865,000. Assenagon Asset Management S.A. owned approximately 0.61% of Pathward Financial as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Pathward Financial during the 2nd quarter valued at about $415,000. Intech Investment Management LLC purchased a new stake in Pathward Financial during the second quarter valued at about $615,000. Marshall Wace LLP grew its stake in shares of Pathward Financial by 321.9% during the second quarter. Marshall Wace LLP now owns 93,127 shares of the savings and loans company’s stock valued at $5,268,000 after buying an additional 71,054 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Pathward Financial by 11.1% in the second quarter. Squarepoint Ops LLC now owns 16,270 shares of the savings and loans company’s stock worth $920,000 after buying an additional 1,621 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Pathward Financial by 146.2% in the 2nd quarter. AQR Capital Management LLC now owns 9,939 shares of the savings and loans company’s stock valued at $562,000 after acquiring an additional 5,902 shares during the last quarter. Institutional investors own 92.66% of the company’s stock.

Insider Buying and Selling

In related news, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $80.60, for a total transaction of $181,350.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

Pathward Financial Price Performance

CASH stock opened at $77.74 on Friday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 11.73 and a beta of 0.72. The firm’s 50-day moving average price is $78.66 and its two-hundred day moving average price is $70.86. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $167.20 million. During the same quarter in the previous year, the business earned $1.36 EPS. Pathward Financial’s revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that Pathward Financial, Inc. will post 7.29 earnings per share for the current year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Tuesday, December 10th. Pathward Financial’s payout ratio is 3.02%.

Analyst Ratings Changes

Several brokerages recently weighed in on CASH. Piper Sandler increased their target price on Pathward Financial from $82.00 to $94.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods increased their price objective on Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

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.