Putnam Investments LLC Has $1.09 Million Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Putnam Investments LLC lowered its stake in Pathward Financial, Inc. (NASDAQ:CASH – Get Rating) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,009 shares of the savings and loans company’s stock after selling 601 shares during the period. Putnam Investments LLC’s holdings in Pathward Financial were worth $1,088,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Pathward Financial in the first quarter valued at approximately $34,000. Lazard Asset Management LLC raised its stake in shares of Pathward Financial by 58.2% during the second quarter. Lazard Asset Management LLC now owns 2,219 shares of the savings and loans company’s stock valued at $85,000 after acquiring an additional 816 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Pathward Financial by 19.1% during the second quarter. Brown Brothers Harriman & Co. now owns 2,507 shares of the savings and loans company’s stock valued at $97,000 after acquiring an additional 402 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Pathward Financial by 27.2% during the first quarter. Advisor Group Holdings Inc. now owns 2,116 shares of the savings and loans company’s stock valued at $116,000 after acquiring an additional 453 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Pathward Financial during the second quarter valued at $120,000. Institutional investors and hedge funds own 89.63% of the company’s stock.

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, President Anthony M. Sharett sold 2,500 shares of Pathward Financial stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $46.60, for a total value of $116,500.00. Following the completion of the sale, the president now directly owns 30,486 shares of the company’s stock, valued at $1,420,647.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.43% of the company’s stock.

Pathward Financial Price Performance

Shares of NASDAQ CASH opened at $42.07 on Tuesday. Pathward Financial, Inc. has a twelve month low of $31.16 and a twelve month high of $57.57. The firm has a fifty day simple moving average of $48.44 and a 200 day simple moving average of $42.21. The company has a market capitalization of $1.16 billion, a PE ratio of 9.99 and a beta of 0.80. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.05.

Pathward Financial (NASDAQ:CASH – Get Rating) last announced its earnings results on Wednesday, January 25th. The savings and loans company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Pathward Financial had a net margin of 20.37% and a return on equity of 18.73%. The business had revenue of $149.83 million during the quarter, compared to the consensus estimate of $136.79 million. During the same quarter last year, the firm earned $0.78 earnings per share. Pathward Financial’s quarterly revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Pathward Financial, Inc. will post 5.61 EPS for the current year.

Pathward Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Friday, March 10th. Pathward Financial’s dividend payout ratio (DPR) is currently 4.75%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price target on shares of Pathward Financial from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, January 26th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.25.

Pathward Financial Company Profile

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Pathward Financial, Inc operates as a financial holding company, which provides savings and loan services. The firm operates through the following business segments: Consumer, Commercial, and Corporate Services and Other. The Consumer segment provides meta payment systems (MPS), consumer credit products, warehouse finance and other tax services.