Pathward Financial, Inc. (NASDAQ:CASH) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System grew its holdings in Pathward Financial, Inc. (NASDAQ:CASH – Get Rating) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,198 shares of the savings and loans company’s stock after purchasing an additional 218 shares during the quarter. Arizona State Retirement System’s holdings in Pathward Financial were worth $353,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. BlackRock Inc. grew its position in shares of Pathward Financial by 0.6% in the third quarter. BlackRock Inc. now owns 4,310,058 shares of the savings and loans company’s stock valued at $142,061,000 after purchasing an additional 26,190 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Pathward Financial by 2.8% during the third quarter. Vanguard Group Inc. now owns 1,995,538 shares of the savings and loans company’s stock valued at $65,772,000 after buying an additional 54,842 shares during the period. State Street Corp lifted its stake in shares of Pathward Financial by 9.1% during the first quarter. State Street Corp now owns 1,619,290 shares of the savings and loans company’s stock valued at $89,010,000 after buying an additional 134,591 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Pathward Financial by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,467,053 shares of the savings and loans company’s stock valued at $80,573,000 after buying an additional 7,854 shares during the period. Finally, Nantahala Capital Management LLC raised its stake in Pathward Financial by 34.8% during the third quarter. Nantahala Capital Management LLC now owns 1,327,968 shares of the savings and loans company’s stock worth $43,770,000 after purchasing an additional 342,509 shares during the period. 89.63% of the stock is currently owned by institutional investors and hedge funds.

Pathward Financial Price Performance

Shares of NASDAQ:CASH opened at $45.90 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.05. Pathward Financial, Inc. has a fifty-two week low of $31.16 and a fifty-two week high of $52.71. The firm has a 50-day simple moving average of $42.76 and a 200 day simple moving average of $44.81. The company has a market cap of $1.24 billion, a PE ratio of 10.11 and a beta of 0.78.

Pathward Financial (NASDAQ:CASH – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The savings and loans company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.16. Pathward Financial had a net margin of 20.19% and a return on equity of 20.80%. The business had revenue of $228.44 million during the quarter, compared to the consensus estimate of $210.36 million. During the same quarter in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Pathward Financial, Inc. will post 5.7 EPS for the current year.

Pathward Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 8th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.44%. Pathward Financial’s dividend payout ratio is currently 4.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CASH shares. 92 Resources restated a “maintains” rating on shares of Pathward Financial in a report on Thursday, April 27th. Piper Sandler dropped their price target on shares of Pathward Financial from $63.00 to $59.00 in a research note on Thursday, April 6th. StockNews.com downgraded shares of Pathward Financial from a “hold” rating to a “sell” rating in a research report on Saturday, May 13th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Pathward Financial from $49.00 to $47.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.00.

Insider Activity

In other Pathward Financial news, Director Frederick V. Moore sold 3,350 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $46.61, for a total value of $156,143.50. Following the transaction, the director now owns 4,110 shares in the company, valued at approximately $191,567.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have bought 850 shares of company stock worth $37,057 over the last 90 days. 1.43% of the stock is owned by company insiders.

Pathward Financial 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.