24,415 Shares in Pathward Financial, Inc. (NASDAQ:CASH) Acquired by Summit Global Investments

Summit Global Investments acquired a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 24,415 shares of the savings and loans company’s stock, valued at approximately $1,292,000.

Several other institutional investors have also recently modified their holdings of CASH. Kennicott Capital Management LLC acquired a new position in Pathward Financial in the 4th quarter valued at $35,000. Carmel Capital Partners LLC acquired a new position in Pathward Financial in the 3rd quarter valued at $36,000. Harvest Fund Management Co. Ltd raised its holdings in Pathward Financial by 170.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,696 shares of the savings and loans company’s stock valued at $78,000 after acquiring an additional 1,070 shares during the last quarter. Cottage Street Advisors LLC raised its holdings in Pathward Financial by 60.9% in the 4th quarter. Cottage Street Advisors LLC now owns 2,114 shares of the savings and loans company’s stock valued at $112,000 after acquiring an additional 800 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Pathward Financial by 24.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock valued at $134,000 after acquiring an additional 500 shares during the last quarter. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Trading Up 1.5 %

Shares of CASH stock traded up $0.79 on Friday, reaching $52.93. 124,284 shares of the stock were exchanged, compared to its average volume of 146,890. The stock has a market cap of $1.35 billion, a P/E ratio of 7.95 and a beta of 0.66. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $50.06 and a two-hundred day moving average of $50.24. Pathward Financial, Inc. has a 1-year low of $41.34 and a 1-year high of $60.49.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.19. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The firm had revenue of $247.25 million during the quarter, compared to analysts’ expectations of $240.46 million. During the same period in the prior year, the company earned $2.18 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. On average, research analysts anticipate that Pathward Financial, Inc. will post 6.43 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. Pathward Financial’s dividend payout ratio (DPR) is 3.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CASH. Keefe, Bruyette & Woods cut their price target on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, April 5th. Piper Sandler dropped their price objective on Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, January 25th.

Insider Buying and Selling

In related news, President Anthony M. Sharett sold 1,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the sale, the president now directly owns 33,146 shares of the company’s stock, valued at approximately $1,574,435. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by corporate 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.