Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by Cynosure Group LLC

Cynosure Group LLC decreased its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 22.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,892 shares of the savings and loans company’s stock after selling 3,242 shares during the quarter. Cynosure Group LLC’s holdings in Pathward Financial were worth $719,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CASH. Mawer Investment Management Ltd. acquired a new position in shares of Pathward Financial in the second quarter worth about $12,376,000. F M Investments LLC bought a new stake in Pathward Financial in the second quarter valued at about $10,784,000. FMR LLC increased its holdings in Pathward Financial by 6.9% in 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 buying an additional 132,067 shares during the last quarter. American Century Companies Inc. increased its holdings 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 valued at $28,551,000 after buying an additional 85,566 shares during the last quarter. Finally, Foundry Partners LLC bought a new stake in Pathward Financial in the second quarter valued at about $4,669,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Insider Transactions at Pathward Financial

In related news, CFO Greg Sigrist sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $80.60, for a total value of $181,350.00. Following the sale, the chief financial officer now directly owns 9,644 shares in the company, valued at $777,306.40. This trade represents a 18.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $66.40, for a total value of $205,840.00. Following the completion of the sale, the president now owns 30,046 shares in the company, valued at approximately $1,995,054.40. This represents a 9.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,350 shares of company stock worth $517,010. 0.72% of the stock is currently owned by company insiders.

Pathward Financial Stock Up 1.2 %

Shares of Pathward Financial stock opened at $84.46 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.11 billion, a P/E ratio of 12.74 and a beta of 0.67. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $86.00. The business has a 50-day moving average price of $73.21 and a 200 day moving average price of $64.83.

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 for the quarter, topping 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 in the prior year, the firm earned $1.36 EPS. On average, sell-side analysts forecast that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

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

Analysts Set New Price Targets

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 report on Thursday, October 24th.

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.