Vanguard Trims Pathward Financial Stake to 7.0%

TL;DR

**Vanguard cut its stake in Pathward Financial to 7.0% as of Dec 29, 2023.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, indicating a change in its ownership stake in Pathward Financial Inc. As of December 29, 2023, Vanguard reported beneficial ownership of 2,050,919 shares of Pathward Financial's Common Stock, representing 7.0% of the company. This is a decrease from their previous reported stake, signaling a slight reduction in Vanguard's passive investment in the financial institution.

Why It Matters

This filing shows that a major institutional investor, Vanguard, has slightly reduced its position in Pathward Financial, which could be interpreted by the market as a minor shift in sentiment or a portfolio rebalancing.

Risk Assessment

Risk Level: low — A passive institutional investor slightly reducing its stake is a common occurrence and typically doesn't indicate significant risk unless the reduction is substantial or accompanied by other negative news.

Analyst Insight

An investor should note this minor reduction by a large institutional holder but recognize it's a passive investment and likely not indicative of a fundamental change in Pathward Financial's outlook. It warrants continued monitoring of future filings and company performance.

Key Numbers

• 2,050,919 — Shares Beneficially Owned (Represents the total number of Common Stock shares of Pathward Financial Inc. that The Vanguard Group beneficially owned as of December 29, 2023.)
• 7.0% — Percentage of Class (Indicates the percentage of Pathward Financial Inc.'s Common Stock that The Vanguard Group beneficially owned, showing a slight decrease from previous filings.)
• December 29, 2023 — Event Date (This is the specific date that triggered the requirement for The Vanguard Group to file this amendment, reflecting their ownership status on that day.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Pathward Financial Inc (company) — subject company whose securities are being reported
• 2,050,919 (dollar_amount) — number of shares beneficially owned by Vanguard
• 7.0% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Pathward Financial's stock price will see minimal impact from this filing. (Pathward Financial Inc.) — high confidence, target: 2024-02-20
• Vanguard will continue to hold a significant, but passive, stake in Pathward Financial. (The Vanguard Group) — high confidence, target: 2025-02-13

FAQ

Filing Documents

• tv01659-pathwardfinancialinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021673.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Pathward Financial Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 5501 South Broadband Lane Sioux Falls, SD 57108-2253

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 59100U108

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR