Orchard Capital Management LLC lowered its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH – Free Report) by 83.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,766 shares of the savings and loans company’s stock after selling 96,429 shares during the period. Pathward Financial comprises 1.7% of Orchard Capital Management LLC’s portfolio, making the stock its 21st largest holding. Orchard Capital Management LLC’s holdings in Pathward Financial were worth $1,564,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CASH. Comerica Bank raised its position in shares of Pathward Financial by 89.8% during the 1st quarter. Comerica Bank now owns 26,696 shares of the savings and loans company’s stock worth $1,948,000 after purchasing an additional 12,632 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Pathward Financial during the first quarter worth $256,000. XTX Topco Ltd raised its holdings in shares of Pathward Financial by 99.2% in the first quarter. XTX Topco Ltd now owns 24,846 shares of the savings and loans company’s stock worth $1,813,000 after acquiring an additional 12,376 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Pathward Financial in the first quarter worth $584,000. Finally, Sheets Smith Wealth Management acquired a new position in shares of Pathward Financial in the second quarter worth $276,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.
Pathward Financial Price Performance
CASH stock opened at $71.48 on Friday. The company has a 50 day moving average price of $71.41 and a two-hundred day moving average price of $75.76. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.79. The stock has a market capitalization of $1.63 billion, a P/E ratio of 9.05 and a beta of 0.79. Pathward Financial, Inc. has a one year low of $64.45 and a one year high of $86.00.
Pathward Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Wednesday, December 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Pathward Financial’s dividend payout ratio (DPR) is presently 2.53%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Pathward Financial in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.
Read Our Latest Research Report on Pathward Financial
Insider Buying and Selling at Pathward Financial
In other news, President Anthony M. Sharett sold 11,500 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $71.55, for a total transaction of $822,825.00. Following the transaction, the president directly owned 25,155 shares in the company, valued at $1,799,840.25. This represents a 31.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nadia Dombrowski sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $71.46, for a total transaction of $357,300.00. Following the completion of the sale, the insider owned 6,528 shares of the company’s stock, valued at approximately $466,490.88. The trade was a 43.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,500 shares of company stock worth $1,384,455 in the last 90 days. 1.23% of the stock is owned by company insiders.
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.
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