Victory Capital Management Inc. Purchases 18,708 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Victory Capital Management Inc. boosted its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 384.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,572 shares of the savings and loans company’s stock after acquiring an additional 18,708 shares during the period. Victory Capital Management Inc.’s holdings in Pathward Financial were worth $1,556,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Pathward Financial by 103.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock worth $8,437,000 after purchasing an additional 75,792 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Pathward Financial during the 3rd quarter worth $476,000. Algert Global LLC boosted its holdings in shares of Pathward Financial by 83.1% in the 2nd quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock worth $4,547,000 after buying an additional 36,475 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Pathward Financial by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock worth $724,000 after buying an additional 315 shares during the last quarter. Finally, Boston Partners bought a new stake in Pathward Financial in the first quarter worth about $827,000. 92.66% of the stock is owned by institutional investors.

Insider Activity

In other Pathward Financial news, Director Douglas J. Hajek sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total value of $129,820.00. Following the completion of the transaction, the director now directly owns 19,531 shares of the company’s stock, valued at $1,267,757.21. This trade represents a 9.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Greg Sigrist sold 2,250 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $80.60, for a total transaction of $181,350.00. Following the completion of the transaction, the chief financial officer now directly owns 9,644 shares in the company, valued at approximately $777,306.40. The trade was a 18.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,350 shares of company stock worth $517,010. 0.72% of the stock is owned by corporate insiders.

Pathward Financial Trading Up 1.7 %

Shares of CASH opened at $84.29 on Tuesday. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $86.00. The business has a 50-day moving average of $72.57 and a 200 day moving average of $64.49. The firm has a market cap of $2.11 billion, a P/E ratio of 12.71 and a beta of 0.67. 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 (NASDAQ:CASH) last posted its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.08. The company had revenue of $167.90 million for the quarter, compared to analyst estimates of $167.20 million. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, research analysts forecast that Pathward Financial, Inc. will post 7.05 EPS for the current year.

Pathward Financial Announces Dividend

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

Analysts Set New Price Targets

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

About Pathward Financial

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.