NFJ Investment Group LLC Reduces Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

NFJ Investment Group LLC reduced its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 21.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,646 shares of the savings and loans company’s stock after selling 13,171 shares during the period. NFJ Investment Group LLC owned about 0.19% of Pathward Financial worth $3,211,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. bought a new stake in shares of Pathward Financial during the 2nd quarter valued at $12,376,000. F M Investments LLC bought a new stake in Pathward Financial during the second quarter valued at about $10,784,000. FMR LLC grew its holdings in Pathward Financial by 6.9% during the third 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. increased its position in Pathward Financial by 20.4% in the second quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock worth $28,551,000 after buying an additional 85,566 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in shares of Pathward Financial in the second quarter worth about $4,669,000. 92.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Pathward Financial Stock Down 0.6 %

Shares of CASH stock opened at $82.98 on Wednesday. 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, Inc. has a one year low of $46.68 and a one year high of $86.00. The company’s fifty day moving average price is $74.54 and its 200-day moving average price is $65.74. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 12.52 and a beta of 0.69.

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

Pathward Financial Announces Dividend

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

Insiders Place Their Bets

In other news, Director Douglas J. Hajek sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the completion of the transaction, the director now owns 19,531 shares in the company, valued at $1,267,757.21. This trade represents a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $80.60, for a total value 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. This represents a 18.92 % 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 in the last three months. 0.72% of the stock is owned by company insiders.

About Pathward Financial

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.