Algert Global LLC Has $7.49 Million Position in Pathward Financial, Inc. (NASDAQ:CASH)

Algert Global LLC grew its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 41.2% during the third quarter, Holdings Channel reports. The firm owned 113,484 shares of the savings and loans company’s stock after acquiring an additional 33,108 shares during the quarter. Algert Global LLC’s holdings in Pathward Financial were worth $7,491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CASH. Opal Wealth Advisors LLC acquired a new position in shares of Pathward Financial in the 2nd quarter valued at about $25,000. Quarry LP increased its position in Pathward Financial by 419.0% in the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after buying an additional 419 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Pathward Financial in the 3rd quarter valued at about $29,000. Gladius Capital Management LP bought a new stake in Pathward Financial in the 2nd quarter valued at about $31,000. Finally, USA Financial Formulas bought a new stake in Pathward Financial in the 3rd quarter valued at about $56,000. 92.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Greg Sigrist sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $80.60, for a total value of $181,350.00. Following the completion of the transaction, the chief financial officer now directly owns 9,644 shares of the company’s stock, valued at $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $66.40, for a total value of $205,840.00. Following the completion of the transaction, the president now owns 30,046 shares in the company, valued at approximately $1,995,054.40. The trade was a 9.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,350 shares of company stock valued at $517,010 over the last three months. Corporate insiders own 0.72% of the company’s stock.

Pathward Financial Stock Performance

Shares of CASH opened at $82.90 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. The stock has a 50 day moving average price of $72.24 and a two-hundred day moving average price of $64.13. The firm has a market capitalization of $2.07 billion, a P/E ratio of 12.50 and a beta of 0.67. Pathward Financial, Inc. has a 52 week low of $46.68 and a 52 week high of $83.83.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.08. The firm had revenue of $167.90 million during the quarter, compared to analyst estimates of $167.20 million. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS. Equities analysts forecast that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Tuesday, December 10th. Pathward Financial’s dividend payout ratio is currently 3.02%.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their target price on Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th.

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.