Harbor Capital Advisors Inc. lessened its holdings in Pathward Financial, Inc. (NASDAQ:CASH – Free Report) by 11.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,666 shares of the savings and loans company’s stock after selling 827 shares during the period. Harbor Capital Advisors Inc.’s holdings in Pathward Financial were worth $490,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Texas Permanent School Fund Corp raised its position in shares of Pathward Financial by 34.3% during the second quarter. Texas Permanent School Fund Corp now owns 29,952 shares of the savings and loans company’s stock worth $1,694,000 after acquiring an additional 7,643 shares during the last quarter. American Century Companies Inc. raised its holdings in 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 worth $28,551,000 after purchasing an additional 85,566 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Pathward Financial in the 2nd quarter worth approximately $415,000. Intech Investment Management LLC bought a new stake in shares of Pathward Financial in the 2nd quarter valued at $615,000. Finally, Marshall Wace LLP increased its position 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 worth $5,268,000 after buying an additional 71,054 shares during the period. 92.66% of the stock is currently owned by institutional investors and hedge funds.
Pathward Financial Stock Performance
NASDAQ:CASH opened at $75.68 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a twelve month low of $46.68 and a twelve month high of $86.00. The company has a fifty day moving average of $78.78 and a 200-day moving average of $70.54. The firm has a market capitalization of $1.83 billion, a P/E ratio of 11.41 and a beta of 0.72.
Pathward Financial (NASDAQ:CASH – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.08. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The firm had revenue of $167.90 million during the quarter, compared to the consensus estimate of $167.20 million. During the same period in the previous year, the firm posted $1.36 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pathward Financial, Inc. will post 7.05 EPS for the current year.
Pathward Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Tuesday, December 10th were paid a dividend of $0.05 per share. 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 dividend payout ratio (DPR) is currently 3.02%.
Insiders Place Their Bets
In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the transaction, the chief financial officer now directly owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.
Analyst Ratings Changes
CASH has been the topic of several recent analyst reports. Piper Sandler boosted their target price on shares of 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 boosted 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.
Read Our Latest Analysis on CASH
About Pathward Financial
(Free Report)
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.
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