Pathward Financial, Inc. (NASDAQ:CASH) President Anthony M. Sharett recently sold shares of the company's stock, according to a new SEC filing. The transaction, which took place on March 15, involved the sale of 1,000 shares at a price of $47.50 each, totaling $47,500.
The sale by President Sharett comes as part of his individual transactions involving Pathward Financial's common stock. Following the sale, Sharett's remaining holdings in the company amount to 33,146 shares of common stock, directly owned.
Pathward Financial, formerly known as Meta Financial Group (NASDAQ:CASH), Inc., is a financial holding company headquartered in Sioux Falls, South Dakota. The company operates through its subsidiary, Pathward, National Association, offering a range of banking products and services.
Investors often monitor the buying and selling activities of company insiders as it can provide insights into their perspective on the company's current valuation and future prospects. However, it is important to note that these transactions can be subject to various personal financial considerations and do not always indicate a change in company fundamentals.
The details of the transaction are publicly available as part of the company's regulatory filings with the Securities and Exchange Commission. Pathward Financial has not made any official statement regarding the reasons behind President Sharett's recent stock sale.
InvestingPro Insights
As Pathward Financial, Inc. (NASDAQ:CASH) navigates through the dynamics of the financial sector, the recent sale of shares by President Anthony M. Sharett has brought the company into the spotlight. Let's delve into some key financial metrics and InvestingPro Tips that shed light on the company's current situation.
InvestingPro Data shows Pathward Financial with an adjusted market capitalization of approximately $1.22 billion USD. The company's P/E ratio stands at a modest 7.79, which adjusts slightly to 7.56 when looking at the last twelve months as of Q1 2024. This suggests a valuation that is potentially attractive relative to near-term earnings growth, as indicated by an even lower PEG ratio of 0.17 for the same period. Moreover, the company has demonstrated robust revenue growth of 18.39% over the last twelve months as of Q1 2024, underlining its expanding operations.
An InvestingPro Tip highlights that management has been aggressively buying back shares, a move that often signals confidence in the company's future and a commitment to shareholder value. Additionally, Pathward Financial has maintained dividend payments for 31 consecutive years, which speaks to its financial stability and reliability as an income-generating investment.
For investors seeking a deeper analysis of Pathward Financial, there are additional InvestingPro Tips available. These include insights on earnings revisions by analysts and the company's gross profit margins. To explore these further, visit InvestingPro for a comprehensive set of tips. Remember, you can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a total of 7 additional InvestingPro Tips that could guide your investment decisions.
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