West Tower Group LLC Has $395,000 Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

West Tower Group LLC cut its position in Pathward Financial, Inc. (NASDAQ:CASH) by 29.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,990 shares of the savings and loans company’s stock after selling 2,500 shares during the quarter. West Tower Group LLC’s holdings in Pathward Financial were worth $395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in Pathward Financial in the 3rd quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new position in Pathward Financial in the 2nd quarter valued at $25,000. Quarry LP grew its stake in Pathward Financial by 419.0% in the 2nd quarter. Quarry LP now owns 519 shares of the savings and loans company’s stock valued at $29,000 after buying an additional 419 shares during the last quarter. Gladius Capital Management LP acquired a new position in Pathward Financial in the 2nd quarter valued at $31,000. Finally, USA Financial Formulas bought a new stake in Pathward Financial in the 3rd quarter valued at $56,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pathward Financial

In other news, CFO Greg Sigrist sold 2,250 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. This trade represents a 18.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $205,840.00. Following the transaction, the president now directly owns 30,046 shares of the company’s stock, valued at $1,995,054.40. The trade was a 9.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,350 shares of company stock valued at $517,010. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price target on shares of Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, October 24th.

Pathward Financial Price Performance

Shares of Pathward Financial stock opened at $84.29 on Tuesday. 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 $86.00. The firm has a fifty day moving average price of $72.57 and a two-hundred day moving average price of $64.49. The company has a market cap of $2.11 billion, a PE ratio of 12.71 and a beta of 0.67.

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

Pathward Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Tuesday, December 10th. Pathward Financial’s payout ratio is 3.02%.

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.