Mawer Investment Management Ltd. Acquires 7,049 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Mawer Investment Management Ltd. raised its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 225,815 shares of the savings and loans company’s stock after acquiring an additional 7,049 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Pathward Financial were worth $14,906,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CASH. F M Investments LLC bought a new position in shares of Pathward Financial during the 2nd quarter worth approximately $10,784,000. American Century Companies Inc. grew its stake in shares of Pathward Financial by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 504,708 shares of the savings and loans company’s stock worth $28,551,000 after acquiring an additional 85,566 shares in the last quarter. Foundry Partners LLC bought a new position in shares of Pathward Financial during the 2nd quarter worth approximately $4,669,000. Assenagon Asset Management S.A. grew its stake in shares of Pathward Financial by 103.3% in the second quarter. Assenagon Asset Management S.A. now owns 149,143 shares of the savings and loans company’s stock valued at $8,437,000 after buying an additional 75,792 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Pathward Financial by 321.9% in the second quarter. Marshall Wace LLP now owns 93,127 shares of the savings and loans company’s stock valued at $5,268,000 after buying an additional 71,054 shares in the last quarter. 92.66% of the stock is owned by institutional investors.

Insider Buying and Selling 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 $777,306.40. This trade represents a 18.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction on Friday, September 13th. The stock was 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. This represents a 9.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,350 shares of company stock valued at $517,010. 0.72% of the stock is currently owned by company insiders.

Pathward Financial Stock Performance

CASH stock traded up $0.37 during midday trading on Monday, reaching $80.00. 2,169 shares of the company were exchanged, compared to its average volume of 180,322. Pathward Financial, Inc. has a one year low of $46.68 and a one year high of $83.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 12.01 and a beta of 0.67. The business has a 50-day moving average price of $70.83 and a two-hundred day moving average price of $63.32.

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.08. The company had revenue of $167.90 million during the quarter, compared to the consensus estimate 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 was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. Equities research analysts forecast that Pathward Financial, Inc. will post 7.05 EPS for the current year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Tuesday, September 10th. Pathward Financial’s dividend payout ratio is presently 3.02%.

Analyst Upgrades and Downgrades

CASH has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler raised their target price on shares of Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th.

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.