Arizona State Retirement System Decreases Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Arizona State Retirement System lowered its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,332 shares of the savings and loans company’s stock after selling 331 shares during the quarter. Arizona State Retirement System’s holdings in Pathward Financial were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of Pathward Financial in the first quarter worth $34,000. Quarry LP bought a new stake in shares of Pathward Financial in the second quarter worth $35,000. Carmel Capital Partners LLC bought a new stake in shares of Pathward Financial in the third quarter worth $36,000. Tower Research Capital LLC TRC grew its holdings in shares of Pathward Financial by 65.0% in the third quarter. Tower Research Capital LLC TRC now owns 942 shares of the savings and loans company’s stock worth $43,000 after acquiring an additional 371 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Pathward Financial in the second quarter worth $47,000. Institutional investors own 92.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CASH. Piper Sandler cut 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. 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.

Pathward Financial Stock Performance

NASDAQ:CASH opened at $50.39 on Friday. The stock has a 50-day simple moving average of $50.06 and a two-hundred day simple moving average of $49.99. Pathward Financial, Inc. has a 52-week low of $39.90 and a 52-week high of $60.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.72. The firm has a market capitalization of $1.28 billion, a PE ratio of 8.27 and a beta of 0.71.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, January 24th. The savings and loans company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.17). The company had revenue of $162.80 million for the quarter, compared to the consensus estimate of $166.45 million. Pathward Financial had a net margin of 22.22% and a return on equity of 24.97%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. Analysts forecast that Pathward Financial, Inc. will post 6.32 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Tuesday, March 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, March 11th. Pathward Financial’s dividend payout ratio (DPR) is 3.28%.

Insider Transactions at Pathward Financial

In other news, President Anthony M. Sharett sold 1,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $47.50, for a total value of $47,500.00. Following the completion of the transaction, the president now owns 33,146 shares of the company’s stock, valued at $1,574,435. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

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.