Wedge Capital Management L L P NC Grows Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Wedge Capital Management L L P NC increased its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 16.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,523 shares of the savings and loans company’s stock after purchasing an additional 2,035 shares during the period. Wedge Capital Management L L P NC owned 0.06% of Pathward Financial worth $1,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CASH. Smartleaf Asset Management LLC lifted its position in shares of Pathward Financial by 302.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company’s stock valued at $41,000 after acquiring an additional 414 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Pathward Financial by 726.8% during the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company’s stock worth $43,000 after buying an additional 516 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Pathward Financial in the fourth quarter valued at about $201,000. AXA S.A. purchased a new position in shares of Pathward Financial in the fourth quarter worth about $203,000. Finally, Pictet Asset Management Holding SA acquired a new position in Pathward Financial during the fourth quarter worth about $210,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pathward Financial

In related news, CAO Jennifer W. Warren sold 1,667 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $77.97, for a total transaction of $129,975.99. Following the completion of the sale, the chief accounting officer now owns 5,019 shares in the company, valued at $391,331.43. The trade was a 24.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kendall E. Stork sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.33, for a total transaction of $317,320.00. Following the sale, the director now directly owns 6,153 shares in the company, valued at approximately $488,117.49. The trade was a 39.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,882 shares of company stock valued at $1,403,123 in the last three months. 1.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Pathward Financial Stock Performance

Pathward Financial stock opened at $76.97 on Thursday. The firm has a 50 day simple moving average of $76.63 and a 200-day simple moving average of $76.95. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 11.22 and a beta of 0.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. Pathward Financial, Inc. has a 1-year low of $51.98 and a 1-year high of $86.00.

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.40. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The company had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. During the same quarter in the previous year, the business earned $2.56 earnings per share. On average, analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Friday, June 13th. Pathward Financial’s dividend payout ratio (DPR) is 2.70%.

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.