USA Financial Formulas Invests $56,000 in Pathward Financial, Inc. (NASDAQ:CASH)

USA Financial Formulas acquired a new position in Pathward Financial, Inc. (NASDAQ:CASH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 846 shares of the savings and loans company’s stock, valued at approximately $56,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in Pathward Financial by 17.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 5,300 shares of the savings and loans company’s stock valued at $350,000 after acquiring an additional 800 shares during the period. Quarry LP boosted its holdings in Pathward Financial by 419.0% during the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after acquiring an additional 419 shares during the period. Algert Global LLC raised its position in Pathward Financial by 83.1% during the 2nd quarter. Algert Global LLC now owns 80,376 shares of the savings and loans company’s stock valued at $4,547,000 after purchasing an additional 36,475 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in Pathward Financial by 5.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 22,768 shares of the savings and loans company’s stock valued at $1,288,000 after purchasing an additional 1,237 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Pathward Financial by 2.5% during 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 last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Pathward Financial Stock Up 0.5 %

Shares of NASDAQ:CASH opened at $70.80 on Friday. Pathward Financial, Inc. has a 52-week low of $41.79 and a 52-week high of $70.85. The firm has a market capitalization of $1.79 billion, a P/E ratio of 10.63 and a beta of 0.68. The stock has a 50 day moving average price of $65.68 and a 200-day moving average price of $58.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.73.

Pathward Financial (NASDAQ:CASH) last announced its earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. Pathward Financial had a return on equity of 23.59% and a net margin of 22.10%. The firm had revenue of $176.73 million during the quarter, compared to analyst estimates of $176.63 million. During the same quarter in the prior year, the company earned $1.76 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Pathward Financial, Inc. will post 6.87 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Tuesday, September 10th. Pathward Financial’s dividend payout ratio is currently 3.00%.

Insider Transactions at Pathward Financial

In related news, Director Douglas J. Hajek sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total value of $129,820.00. Following the sale, the director now owns 19,531 shares in the company, valued at $1,267,757.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Douglas J. Hajek sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total value of $129,820.00. Following the sale, the director now owns 19,531 shares in the company, valued at $1,267,757.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction that occurred 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 sale, the president now owns 30,046 shares in the company, valued at $1,995,054.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

CASH has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upped their price target on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th.

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.