Clear Harbor Asset Management LLC Lowers Position in Pathward Financial, Inc. (NASDAQ:CASH)

Clear Harbor Asset Management LLC lowered its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,564 shares of the savings and loans company’s stock after selling 790 shares during the period. Clear Harbor Asset Management LLC’s holdings in Pathward Financial were worth $704,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in shares of Pathward Financial in the 2nd quarter worth $415,000. Intech Investment Management LLC purchased a new position in shares of Pathward Financial in the 2nd quarter worth about $615,000. Marshall Wace LLP lifted its stake in shares of Pathward Financial by 321.9% in the 2nd quarter. Marshall Wace LLP now owns 93,127 shares of the savings and loans company’s stock valued at $5,268,000 after purchasing an additional 71,054 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Pathward Financial by 11.1% during the 2nd quarter. Squarepoint Ops LLC now owns 16,270 shares of the savings and loans company’s stock worth $920,000 after purchasing an additional 1,621 shares during the period. Finally, AQR Capital Management LLC increased its position in Pathward Financial by 146.2% during the 2nd quarter. AQR Capital Management LLC now owns 9,939 shares of the savings and loans company’s stock worth $562,000 after purchasing an additional 5,902 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

Insider Transactions at Pathward Financial

In other news, CFO Greg Sigrist sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.60, for a total transaction of $181,350.00. Following the completion of the sale, the chief financial officer now owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.23% of the company’s stock.

Pathward Financial Stock Performance

Pathward Financial stock opened at $78.43 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.63 and a current ratio of 0.74. Pathward Financial, Inc. has a one year low of $46.68 and a one year high of $86.00. The stock’s 50 day moving average price is $78.58 and its 200 day moving average price is $71.10. The firm has a market capitalization of $1.89 billion, a PE ratio of 11.83 and a beta of 0.72.

Pathward Financial (NASDAQ:CASH) last announced its earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The business had revenue of $173.51 million during the quarter, compared to the consensus estimate of $173,273.50 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Pathward Financial, Inc. will post 7.29 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, December 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.26%. Pathward Financial’s dividend payout ratio is presently 3.02%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Pathward Financial from $82.00 to $94.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods increased their price target on Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

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.