Greenwich Investment Management Inc. Invests $6.86 Million in Pathward Financial, Inc. (NASDAQ:CASH)

Greenwich Investment Management Inc. bought a new stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 129,622 shares of the savings and loans company’s stock, valued at approximately $6,861,000. Pathward Financial comprises 5.2% of Greenwich Investment Management Inc.’s investment portfolio, making the stock its 7th largest position. Greenwich Investment Management Inc. owned approximately 0.51% of Pathward Financial at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its position in shares of Pathward Financial by 1.5% during the 4th quarter. SummerHaven Investment Management LLC now owns 14,259 shares of the savings and loans company’s stock valued at $755,000 after acquiring an additional 208 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Pathward Financial by 10.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,843 shares of the savings and loans company’s stock valued at $256,000 after buying an additional 441 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Pathward Financial by 24.6% in the 4th 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 in the last quarter. Panagora Asset Management Inc. lifted its stake in Pathward Financial by 0.4% in the 4th quarter. Panagora Asset Management Inc. now owns 163,151 shares of the savings and loans company’s stock worth $8,636,000 after acquiring an additional 592 shares in the last quarter. Finally, Diversified Trust Co boosted its position in Pathward Financial by 8.8% during the 4th quarter. Diversified Trust Co now owns 7,472 shares of the savings and loans company’s stock worth $395,000 after acquiring an additional 606 shares during the period. 92.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, President Anthony M. Sharett sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.50, for a total value of $47,500.00. Following the transaction, the president now directly owns 33,146 shares of the company’s stock, valued at approximately $1,574,435. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Anthony M. Sharett sold 1,000 shares of Pathward Financial 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 in the company, valued at approximately $1,574,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kendall E. Stork sold 2,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $53.53, for a total transaction of $107,060.00. Following the transaction, the director now directly owns 11,213 shares of the company’s stock, valued at approximately $600,231.89. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their price target on shares of Pathward Financial from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, April 5th.

Pathward Financial Stock Up 2.4 %

NASDAQ CASH traded up $1.30 on Wednesday, reaching $54.73. The stock had a trading volume of 206,538 shares, compared to its average volume of 170,869. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05. Pathward Financial, Inc. has a 1 year low of $41.79 and a 1 year high of $60.49. The business has a 50 day moving average price of $52.29 and a 200 day moving average price of $51.56. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 8.28 and a beta of 0.68.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 EPS for the quarter, beating the consensus estimate of $2.37 by $0.19. The business had revenue of $247.25 million during the quarter, compared to analysts’ expectations 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 posted $2.18 EPS. On average, analysts forecast that Pathward Financial, Inc. will post 6.43 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.20 annualized dividend and a yield of 0.37%. Pathward Financial’s dividend payout ratio (DPR) is currently 3.00%.

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.