Illinois Municipal Retirement Fund Reduces Position in Pathward Financial, Inc. (NASDAQ:CASH)

Illinois Municipal Retirement Fund reduced its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,688 shares of the savings and loans company’s stock after selling 1,017 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Pathward Financial worth $777,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Carmel Capital Partners LLC purchased a new position in Pathward Financial in the 3rd quarter valued at about $36,000. Harvest Fund Management Co. Ltd raised its position in shares of Pathward Financial by 170.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,696 shares of the savings and loans company’s stock valued at $78,000 after buying an additional 1,070 shares during the last quarter. Cottage Street Advisors LLC lifted its stake in shares of Pathward Financial by 60.9% during the fourth quarter. Cottage Street Advisors LLC now owns 2,114 shares of the savings and loans company’s stock valued at $112,000 after buying an additional 800 shares during the period. Nisa Investment Advisors LLC boosted its position in Pathward Financial by 24.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock worth $134,000 after acquiring an additional 500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Pathward Financial in the 3rd quarter worth approximately $152,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Stock Down 1.2 %

Shares of NASDAQ CASH opened at $51.53 on Tuesday. The stock has a market capitalization of $1.31 billion, a PE ratio of 7.74 and a beta of 0.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $50.04 and a 200-day moving average of $50.17. Pathward Financial, Inc. has a 52-week low of $41.34 and a 52-week high of $60.49.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.19. The firm had revenue of $247.25 million during the quarter, compared to the consensus estimate of $240.46 million. Pathward Financial had a return on equity of 25.09% and a net margin of 22.90%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 earnings per share. On average, analysts anticipate that Pathward Financial, Inc. will post 6.43 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Tuesday, March 12th were issued a $0.05 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a yield of 0.39%. Pathward Financial’s payout ratio is 3.00%.

Insider Buying and Selling at Pathward Financial

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

Analysts Set New Price Targets

CASH has been the topic of several analyst reports. Keefe, Bruyette & Woods decreased their price objective on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, April 5th. Piper Sandler cut their price objective on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th.

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.