Mutual of America Capital Management LLC Has $248,000 Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Mutual of America Capital Management LLC lowered its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 9.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,757 shares of the savings and loans company’s stock after selling 397 shares during the period. Mutual of America Capital Management LLC’s holdings in Pathward Financial were worth $248,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. 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 worth $8,437,000 after purchasing an additional 75,792 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Pathward Financial in the third quarter valued at $476,000. Algert Global LLC lifted its position in Pathward Financial by 83.1% in 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 acquiring an additional 36,475 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Pathward Financial by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,803 shares of the savings and loans company’s stock worth $724,000 after buying an additional 315 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Pathward Financial during the first quarter valued at about $827,000. Institutional investors own 92.66% of the company’s stock.

Pathward Financial Price Performance

CASH stock opened at $84.46 on Friday. The firm has a 50 day moving average of $73.52 and a 200-day moving average of $64.97. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.11 billion, a P/E ratio of 12.74 and a beta of 0.67. Pathward Financial, Inc. has a 12 month low of $46.68 and a 12 month high of $86.00.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, October 23rd. The savings and loans company reported $1.35 EPS 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 analyst estimates of $167.20 million. During the same period in the previous year, the business earned $1.36 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Pathward Financial, Inc. will post 7.05 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, President Anthony M. Sharett sold 3,100 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $66.40, for a total transaction of $205,840.00. Following the completion of the transaction, the president now directly owns 30,046 shares of the company’s stock, valued at approximately $1,995,054.40. This represents a 9.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas J. Hajek sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $64.91, for a total value of $129,820.00. Following the transaction, the director now directly owns 19,531 shares in the company, valued at $1,267,757.21. This trade represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,350 shares of company stock valued at $517,010 over the last 90 days. Insiders own 0.72% of the company’s stock.

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.