Wells Fargo & Company MN Acquires 3,100 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Wells Fargo & Company MN boosted its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 28.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,116 shares of the savings and loans company’s stock after buying an additional 3,100 shares during the period. Wells Fargo & Company MN’s holdings in Pathward Financial were worth $1,039,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Pathward Financial during the fourth quarter valued at about $3,734,999,000. Revolve Wealth Partners LLC purchased a new position in shares of Pathward Financial in the fourth quarter valued at $267,437,000. JPMorgan Chase & Co. grew its position in shares of Pathward Financial by 52.2% during the 4th quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company’s stock valued at $41,885,000 after purchasing an additional 195,331 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Pathward Financial in the 4th quarter worth approximately $10,865,000. Finally, American Century Companies Inc. boosted its stake in Pathward Financial by 10.8% in the fourth quarter. American Century Companies Inc. now owns 643,150 shares of the savings and loans company’s stock worth $47,323,000 after buying an additional 62,931 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors.

Pathward Financial Stock Performance

Shares of CASH stock opened at $80.14 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. Pathward Financial, Inc. has a one year low of $50.00 and a one year high of $86.00. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 11.68 and a beta of 0.44. The company’s 50-day moving average is $73.11 and its 200 day moving average is $76.15.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, topping the consensus estimate of $2.71 by $0.40. The firm had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. During the same quarter last year, the company earned $2.56 earnings per share. Sell-side analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.25%. Pathward Financial’s payout ratio is currently 2.70%.

Analysts Set New Price Targets

Separately, Piper Sandler upped their price objective on shares of Pathward Financial from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd.

Insider Buying and Selling

In related news, CEO Brett L. Pharr sold 10,365 shares of Pathward Financial stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $78.07, for a total value of $809,195.55. Following the completion of the sale, the chief executive officer now directly owns 69,750 shares in the company, valued at $5,445,382.50. The trade was a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Douglas J. Hajek sold 1,850 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $79.26, for a total transaction of $146,631.00. Following the transaction, the director now owns 19,631 shares in the company, valued at approximately $1,555,953.06. The trade was a 8.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,882 shares of company stock valued at $1,085,803 in the last ninety days. 1.23% of the stock is owned by company insiders.

Pathward Financial Company 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.