Assenagon Asset Management S.A. Acquires 51,304 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Assenagon Asset Management S.A. grew its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASHFree Report) by 232.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,351 shares of the savings and loans company’s stock after acquiring an additional 51,304 shares during the period. Assenagon Asset Management S.A. owned about 0.29% of Pathward Financial worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CASH. TD Asset Management Inc boosted its holdings in Pathward Financial by 105.0% in the 3rd quarter. TD Asset Management Inc now owns 12,300 shares of the savings and loans company’s stock worth $567,000 after buying an additional 6,300 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Pathward Financial by 19.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,501 shares of the savings and loans company’s stock worth $300,000 after buying an additional 1,059 shares during the period. Teacher Retirement System of Texas boosted its holdings in Pathward Financial by 26.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 16,665 shares of the savings and loans company’s stock worth $768,000 after buying an additional 3,442 shares during the period. Orion Portfolio Solutions LLC bought a new position in Pathward Financial in the 3rd quarter worth $215,000. Finally, Victory Capital Management Inc. boosted its holdings in Pathward Financial by 8.5% in the 3rd quarter. Victory Capital Management Inc. now owns 8,263 shares of the savings and loans company’s stock worth $381,000 after buying an additional 644 shares during the period. Institutional investors own 92.66% of the company’s stock.

Pathward Financial Price Performance

CASH stock traded up $0.88 during mid-day trading on Monday, hitting $55.04. The company had a trading volume of 175,568 shares, compared to its average volume of 175,017. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 8.26 and a beta of 0.66. Pathward Financial, Inc. has a 12-month low of $41.79 and a 12-month high of $60.49. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $50.67 and a 200 day moving average price of $50.95.

Pathward Financial (NASDAQ:CASHGet Free Report) last announced its earnings results on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.19. The firm had revenue of $247.25 million for the quarter, compared to analysts’ expectations of $240.46 million. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 EPS. On average, research analysts anticipate that Pathward Financial, Inc. will post 6.43 earnings per share for the current year.

Pathward Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Tuesday, June 11th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Tuesday, June 11th. Pathward Financial’s dividend payout ratio is 3.00%.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Piper Sandler dropped their target price on shares of Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. Keefe, Bruyette & Woods decreased their price target on shares of Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, April 5th.

Read Our Latest Stock Analysis on Pathward Financial

About Pathward Financial

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Pathward Financial (NASDAQ:CASH)

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