American Century Companies Inc. Acquires 43,273 Shares of Pathward Financial, Inc. $CASH

Key Points

• American Century Companies Inc. increased its stake in Pathward Financial by 6.7%, owning 686,423 shares valued at approximately $50 million.
• Pathward Financial's recent earnings report showed an EPS of $1.81, beating estimates by $0.24, with revenues reaching $195.80 million.
• The company announced a quarterly dividend of $0.05 per share, representing a 0.3% yield, with a low dividend payout ratio of 2.65%.

American Century Companies Inc. lifted its position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 686,423 shares of the savings and loans company's stock after purchasing an additional 43,273 shares during the quarter. American Century Companies Inc. owned approximately 2.88% of Pathward Financial worth $50,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Pathward Financial during the 1st quarter worth approximately $235,000. Allspring Global Investments Holdings LLC raised its position in Pathward Financial by 1,023.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company's stock valued at $5,799,000 after purchasing an additional 71,458 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pathward Financial by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 235,005 shares of the savings and loans company's stock valued at $17,144,000 after buying an additional 6,305 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Pathward Financial in the 1st quarter valued at $572,000. Finally, GAMMA Investing LLC increased its stake in shares of Pathward Financial by 8,971.9% in the 1st quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company's stock valued at $3,342,000 after buying an additional 45,308 shares during the period. Institutional investors and hedge funds own 92.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their target price on Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Pathward Financial Stock Up 4.8%

Shares of Pathward Financial stock traded up $3.58 during trading on Friday, reaching $78.74. The stock had a trading volume of 187,548 shares, compared to its average volume of 192,398. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 10.42 and a beta of 0.62. The stock has a fifty day moving average price of $78.11 and a two-hundred day moving average price of $76.77. Pathward Financial, Inc. has a 52 week low of $62.79 and a 52 week high of $86.00. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The savings and loans company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.24. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. Pathward Financial had a return on equity of 22.16% and a net margin of 22.23%.The company's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 earnings per share. Sell-side analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 10th. Pathward Financial's payout ratio is 2.65%.

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.