Elgethun Capital Management Reduces Position in Pathward Financial, Inc. (NASDAQ:CASH)

Elgethun Capital Management lowered its position in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 14.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,489 shares of the savings and loans company’s stock after selling 27,627 shares during the quarter. Pathward Financial accounts for approximately 3.0% of Elgethun Capital Management’s investment portfolio, making the stock its 7th largest position. Elgethun Capital Management owned approximately 0.69% of Pathward Financial worth $12,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of Pathward Financial by 7.0% during the 3rd quarter. HighTower Advisors LLC now owns 6,032 shares of the savings and loans company’s stock valued at $397,000 after acquiring an additional 393 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Pathward Financial in the 3rd quarter worth about $35,000. State Street Corp raised its holdings in Pathward Financial by 1.4% during the 3rd quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company’s stock worth $84,218,000 after buying an additional 17,004 shares during the period. Jane Street Group LLC lifted its stake in Pathward Financial by 62.2% during the third quarter. Jane Street Group LLC now owns 48,713 shares of the savings and loans company’s stock valued at $3,216,000 after buying an additional 18,675 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Pathward Financial by 27.2% in the third quarter. Orion Portfolio Solutions LLC now owns 6,308 shares of the savings and loans company’s stock worth $416,000 after buying an additional 1,350 shares during the period. 92.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on shares of Pathward Financial from $94.00 to $91.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd.

Pathward Financial Stock Performance

Shares of NASDAQ CASH opened at $67.53 on Monday. The company has a market capitalization of $1.61 billion, a P/E ratio of 9.84 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. Pathward Financial, Inc. has a one year low of $48.15 and a one year high of $86.00. The business’s 50-day moving average price is $76.15 and its two-hundred day moving average price is $75.60.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The firm had revenue of $173.51 million for the quarter, compared to analyst estimates of $173.27 million. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. Analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, March 13th. Pathward Financial’s payout ratio is presently 2.92%.

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.