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

Wedge Capital Management L L P NC boosted its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 16.3% during the 1st quarter, HoldingsChannel reports. The firm 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’s holdings in Pathward Financial were worth $1,059,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of Pathward Financial by 302.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company’s stock worth $41,000 after buying an additional 414 shares during the period. Sterling Capital Management LLC raised its stake in Pathward Financial by 726.8% during the 4th quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company’s stock valued at $43,000 after acquiring an additional 516 shares during the last quarter. Bank of Montreal Can acquired a new stake in Pathward Financial during the 4th quarter worth approximately $201,000. AXA S.A. acquired a new stake in Pathward Financial during the 4th quarter worth approximately $203,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Pathward Financial in the 4th quarter valued at approximately $210,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Jennifer W. Warren sold 1,667 shares of Pathward Financial 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett L. Pharr sold 10,365 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $78.07, for a total transaction of $809,195.55. Following the sale, the chief executive officer now directly owns 69,750 shares in the company, valued at $5,445,382.50. This represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,882 shares of company stock worth $1,403,123 over the last 90 days. 1.23% of the stock is currently owned by corporate insiders.

Pathward Financial Stock Performance

Shares of CASH stock opened at $76.97 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $76.63 and a 200-day simple moving average of $76.95. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 11.22 and a beta of 0.63. Pathward Financial, Inc. has a 12-month low of $51.98 and a 12-month high of $86.00.

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

Pathward Financial Announces Dividend

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

Analyst Ratings Changes

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

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.