3,104,464 Shares in Pathward Financial, Inc. $CASH Purchased by BlackRock Inc.

BlackRock Inc. acquired a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,104,464 shares of the savings and loans company's stock, valued at approximately $270,275,000. BlackRock Inc. owned about 14.71% of Pathward Financial at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Seros Financial LLC bought a new stake in shares of Pathward Financial during the 3rd quarter valued at $481,003,000. Revolve Wealth Partners LLC acquired a new position in Pathward Financial in the fourth quarter valued at about $267,437,000. Bank of America Corp DE boosted its holdings in Pathward Financial by 571.3% during the first quarter. Bank of America Corp DE now owns 302,503 shares of the savings and loans company's stock worth $26,992,000 after buying an additional 257,443 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Pathward Financial during the second quarter worth about $13,918,000. Finally, Deutsche Bank AG acquired a new position in shares of Pathward Financial during the 2nd quarter worth about $12,895,000. 92.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CASH has been the topic of a number of analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $105.00 price target (down from $107.00) on shares of Pathward Financial in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Pathward Financial in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Pathward Financial from $108.00 to $97.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $101.00.

Pathward Financial Price Performance

NASDAQ CASH opened at $81.99 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 10.27 and a beta of 0.61. The business has a 50 day simple moving average of $87.20 and a 200 day simple moving average of $88.08. Pathward Financial, Inc. has a 52-week low of $65.87 and a 52-week high of $101.26.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The savings and loans company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.58). The company had revenue of $189.64 million during the quarter, compared to the consensus estimate of $191.18 million. Pathward Financial had a net margin of 21.03% and a return on equity of 20.61%. Pathward Financial has set its FY 2027 guidance at 9.500-10.000 EPS and its FY 2026 guidance at 7.800-8.200 EPS. Analysts anticipate that Pathward Financial, Inc. will post 7.93 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. Pathward Financial's dividend payout ratio (DPR) is currently 2.51%.

Insider Activity

In other news, Director Elizabeth G. Hoople sold 4,500 shares of the company's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $82.29, for a total transaction of $370,305.00. Following the completion of the transaction, the director directly owned 28,050 shares of the company's stock, valued at $2,308,234.50. This represents a 13.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.43% of the stock is owned by corporate insiders.

About Pathward Financial

Pathward Financial NASDAQ: CASH is a U.S.-based financial services company that operates through its wholly owned subsidiary, Pathward Bank. The company provides a range of banking and payment solutions designed for consumers, small businesses, community banks and fintech partners. Core offerings include deposit accounts, consumer and commercial lending, debit and prepaid card programs, digital banking platforms and treasury management services.

Through its banking charter, Pathward Financial delivers customizable payment solutions, including prepaid cards, payroll cards and benefit disbursement programs.

Want to see what other hedge funds are holding CASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pathward Financial, Inc. (NASDAQ:CASH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source