Pathward Financial, Inc. (NASDAQ:CASH) Stock Position Reduced by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC trimmed its position in Pathward Financial, Inc. (NASDAQ:CASH) by 73.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,442 shares of the savings and loans company’s stock after selling 3,946 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Pathward Financial were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. bought a new stake in Pathward Financial during the fourth quarter valued at $3,734,999,000. Revolve Wealth Partners LLC bought a new stake in shares of Pathward Financial during the 4th quarter valued at about $267,437,000. FMR LLC raised its stake in Pathward Financial by 7.4% during the fourth quarter. FMR LLC now owns 2,203,603 shares of the savings and loans company’s stock worth $162,141,000 after acquiring an additional 151,316 shares during the period. Geode Capital Management LLC lifted its holdings in Pathward Financial by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 711,538 shares of the savings and loans company’s stock worth $52,365,000 after acquiring an additional 11,654 shares during the last quarter. 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 valued at $47,323,000 after acquiring an additional 62,931 shares during the period. 92.66% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Stock Up 0.9 %

Pathward Financial stock opened at $82.77 on Friday. 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 $51.97 and a one year high of $86.00. The company has a 50-day simple moving average of $73.70 and a 200-day simple moving average of $76.49. The firm has a market capitalization of $1.97 billion, a P/E ratio of 12.07 and a beta of 0.64.

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

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were paid a $0.05 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Pathward Financial’s payout ratio is 2.70%.

Insider Activity

In related news, Director Kendall E. Stork sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.33, for a total transaction of $317,320.00. Following the completion of the transaction, the director now owns 6,153 shares of the company’s stock, valued at $488,117.49. This trade represents a 39.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer W. Warren sold 1,667 shares of the business’s stock in a transaction dated 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 approximately $391,331.43. This trade represents a 24.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,882 shares of company stock valued at $1,403,123. Company insiders own 1.23% of the company’s stock.

Wall Street Analyst Weigh In

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

Pathward Financial 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.