Phocas Financial Corp. Sells 10,863 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Phocas Financial Corp. decreased its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,307 shares of the savings and loans company’s stock after selling 10,863 shares during the quarter. Phocas Financial Corp.’s holdings in Pathward Financial were worth $11,506,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SummerHaven Investment Management LLC raised its stake in shares of Pathward Financial by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,728 shares of the savings and loans company’s stock valued at $833,000 after buying an additional 288 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Pathward Financial by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock valued at $724,000 after purchasing an additional 315 shares during the period. ProShare Advisors LLC grew its stake in shares of Pathward Financial by 7.1% in the 1st quarter. ProShare Advisors LLC now owns 5,247 shares of the savings and loans company’s stock valued at $265,000 after purchasing an additional 346 shares during the period. Diversified Trust Co raised its holdings in shares of Pathward Financial by 5.0% in the 2nd quarter. Diversified Trust Co now owns 8,167 shares of the savings and loans company’s stock worth $462,000 after buying an additional 390 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Pathward Financial by 5.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,419 shares of the savings and loans company’s stock worth $420,000 after buying an additional 397 shares during the period. 92.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler increased their price objective on Pathward Financial from $75.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price on shares of Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th.

Insider Buying and Selling

In related news, President Anthony M. Sharett sold 3,100 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.40, for a total value of $205,840.00. Following the transaction, the president now owns 30,046 shares in the company, valued at $1,995,054.40. This trade represents a 9.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Greg Sigrist sold 2,250 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $80.60, for a total value of $181,350.00. Following the sale, the chief financial officer now directly owns 9,644 shares of the company’s stock, valued at $777,306.40. This represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,350 shares of company stock worth $517,010 in the last quarter. Insiders own 0.72% of the company’s stock.

Pathward Financial Trading Down 0.5 %

CASH stock opened at $79.20 on Tuesday. The business has a fifty day moving average price of $70.83 and a 200 day moving average price of $63.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.74 and a quick ratio of 0.63. Pathward Financial, Inc. has a fifty-two week low of $46.68 and a fifty-two week high of $83.83. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 11.95 and a beta of 0.67.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The business had revenue of $167.90 million during the quarter, compared to analysts’ expectations of $167.20 million. During the same period in the previous year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts expect that Pathward Financial, Inc. will post 7.05 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Tuesday, September 10th. Pathward Financial’s dividend payout ratio is currently 3.02%.

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.