Wedbush Securities Inc. Makes New $320,000 Investment in Pathward Financial, Inc. (NASDAQ:CASH)

Wedbush Securities Inc. acquired a new position in Pathward Financial, Inc. (NASDAQ:CASH) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,382 shares of the savings and loans company’s stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in Pathward Financial during the 1st quarter worth approximately $35,000. Sterling Capital Management LLC grew its stake in 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 during the period. Bank of Montreal Can purchased a new stake in Pathward Financial during the fourth quarter worth approximately $201,000. AXA S.A. acquired a new stake in shares of Pathward Financial in the fourth quarter worth $203,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Pathward Financial in the 4th quarter valued at $210,000. 92.66% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Stock Up 0.1%

Shares of NASDAQ:CASH opened at $80.20 on Monday. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.82 and a beta of 0.62. The company has a 50 day moving average of $78.88 and a two-hundred day moving average of $77.11. Pathward Financial, Inc. has a 52-week low of $60.42 and a 52-week high of $86.00. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04.

Pathward Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Friday, June 13th. Pathward Financial’s payout ratio is 2.70%.

Insider Transactions at Pathward Financial

In other Pathward Financial news, Director Kendall E. Stork sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total value of $317,320.00. Following the transaction, the director owned 6,153 shares in the company, valued at $488,117.49. The trade was a 39.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on CASH shares. Piper Sandler upped their price target on shares of Pathward Financial from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods upped their target price on Pathward Financial from $86.00 to $88.00 and gave the stock a “market perform” rating in a research report on Friday, July 11th.

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.