Summit Global Investments Takes Position in Pathward Financial, Inc. (NASDAQ:CASH)

Summit Global Investments purchased a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,415 shares of the savings and loans company’s stock, valued at approximately $1,292,000. Summit Global Investments owned about 0.09% of Pathward Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Kennicott Capital Management LLC bought a new position in shares of Pathward Financial in the fourth quarter valued at approximately $35,000. Carmel Capital Partners LLC purchased a new stake in shares of Pathward Financial during the 3rd quarter valued at $36,000. Harvest Fund Management Co. Ltd increased its position in shares of Pathward Financial by 170.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,696 shares of the savings and loans company’s stock valued at $78,000 after purchasing an additional 1,070 shares during the last quarter. Cottage Street Advisors LLC increased its position in shares of Pathward Financial by 60.9% during the 4th quarter. Cottage Street Advisors LLC now owns 2,114 shares of the savings and loans company’s stock valued at $112,000 after purchasing an additional 800 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Pathward Financial by 24.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the savings and loans company’s stock valued at $134,000 after purchasing an additional 500 shares during the last quarter. 92.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CASH. Keefe, Bruyette & Woods decreased their target price on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, April 5th. Piper Sandler decreased their target price on Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th.

Pathward Financial Stock Performance

CASH traded up $0.79 during trading hours on Friday, hitting $52.93. The stock had a trading volume of 124,284 shares, compared to its average volume of 146,890. The company’s fifty day simple moving average is $50.06 and its 200 day simple moving average is $50.24. Pathward Financial, Inc. has a 1 year low of $41.34 and a 1 year high of $60.49. The stock has a market cap of $1.35 billion, a PE ratio of 7.95 and a beta of 0.66. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05.

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

Pathward Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Monday, March 11th. Pathward Financial’s payout ratio is presently 3.00%.

Insider Buying and Selling at Pathward Financial

In other Pathward Financial news, President Anthony M. Sharett sold 1,000 shares of Pathward Financial stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $47.50, for a total transaction of $47,500.00. Following the completion of the transaction, the president now owns 33,146 shares of the company’s stock, valued at approximately $1,574,435. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

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.