Phocas Financial Corp. Cuts Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Phocas Financial Corp. reduced its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 15.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,697 shares of the savings and loans company’s stock after selling 34,583 shares during the period. Pathward Financial comprises 1.2% of Phocas Financial Corp.’s investment portfolio, making the stock its 12th largest holding. Phocas Financial Corp. owned approximately 0.71% of Pathward Financial worth $8,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Pathward Financial during the 1st quarter worth approximately $34,000. Capital Analysts LLC acquired a new position in Pathward Financial during the 1st quarter worth approximately $47,000. Tower Research Capital LLC TRC grew its holdings in Pathward Financial by 1,977.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,849 shares of the savings and loans company’s stock worth $77,000 after acquiring an additional 1,760 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Pathward Financial by 60.2% during the 4th quarter. Lazard Asset Management LLC now owns 1,908 shares of the savings and loans company’s stock worth $82,000 after acquiring an additional 717 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Pathward Financial by 5,250.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,926 shares of the savings and loans company’s stock worth $82,000 after acquiring an additional 1,890 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CASH has been the subject of several analyst reports. Piper Sandler boosted their price target on shares of Pathward Financial from $62.00 to $67.00 in a report on Thursday, July 27th. StockNews.com assumed coverage on shares of Pathward Financial in a report on Thursday, August 17th. They issued a “hold” rating for the company.

Pathward Financial Stock Down 1.3 %

Shares of Pathward Financial stock traded down $0.60 during trading hours on Tuesday, hitting $47.29. The company had a trading volume of 19,641 shares, compared to its average volume of 235,197. The company’s 50-day moving average is $50.66 and its two-hundred day moving average is $46.95. Pathward Financial, Inc. has a twelve month low of $31.66 and a twelve month high of $60.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.68 and a quick ratio of 0.67. The company has a market cap of $1.24 billion, a P/E ratio of 8.68 and a beta of 0.82.

Pathward Financial (NASDAQ:CASH) last issued its earnings results on Wednesday, July 26th. The savings and loans company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.34. The business had revenue of $165.20 million during the quarter, compared to analysts’ expectations of $167.59 million. Pathward Financial had a net margin of 22.39% and a return on equity of 24.16%. Analysts anticipate that Pathward Financial, Inc. will post 6 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 12th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, September 11th. Pathward Financial’s dividend payout ratio is currently 3.66%.

About Pathward Financial

Pathward Financial, Inc operates as the 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, money market savings accounts, and certificate accounts.