HighTower Advisors LLC Sells 1,301 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

HighTower Advisors LLC decreased its position in Pathward Financial, Inc. (NASDAQ:CASH) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,731 shares of the savings and loans company’s stock after selling 1,301 shares during the quarter. HighTower Advisors LLC’s holdings in Pathward Financial were worth $348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of Pathward Financial in the 3rd quarter worth about $35,000. Smartleaf Asset Management LLC grew its holdings in Pathward Financial by 302.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company’s stock worth $41,000 after purchasing an additional 414 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pathward Financial during the third quarter valued at approximately $94,000. KBC Group NV lifted its holdings in shares of Pathward Financial by 45.8% during the fourth quarter. KBC Group NV now owns 1,417 shares of the savings and loans company’s stock valued at $104,000 after purchasing an additional 445 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Pathward Financial in the 3rd quarter worth approximately $264,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Stock Performance

Shares of CASH opened at $73.93 on Wednesday. Pathward Financial, Inc. has a one year low of $48.15 and a one year high of $86.00. The business has a fifty day moving average of $76.61 and a 200 day moving average of $75.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. The firm has a market capitalization of $1.76 billion, a P/E ratio of 10.78 and a beta of 0.69.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.05. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The business had revenue of $173.51 million for the quarter, compared to analysts’ expectations of $173.27 million. During the same quarter last year, the company posted $1.06 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were 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 was Thursday, March 13th. Pathward Financial’s dividend payout ratio (DPR) is 2.92%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Piper Sandler reduced their price objective on Pathward Financial from $94.00 to $91.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a report 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.