American Century Companies Inc. Has $50.08 Million Stock Holdings in 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. boosted its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 686,423 shares of the savings and loans company's stock after buying 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 SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC raised its position in shares of Pathward Financial by 3.7% during the first quarter. HighTower Advisors LLC now owns 4,906 shares of the savings and loans company's stock worth $358,000 after acquiring an additional 175 shares during the last quarter. Nuveen LLC bought a new position in Pathward Financial during the 1st quarter worth approximately $22,795,000. Invesco Ltd. lifted its position in shares of Pathward Financial by 30.9% in the 1st quarter. Invesco Ltd. now owns 307,261 shares of the savings and loans company's stock worth $22,415,000 after purchasing an additional 72,542 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Pathward Financial in the 1st quarter valued at $256,000. Finally, Cynosure Group LLC increased its position in shares of Pathward Financial by 12.7% during the first quarter. Cynosure Group LLC now owns 9,145 shares of the savings and loans company's stock worth $667,000 after buying an additional 1,034 shares during the period. Institutional investors and hedge funds own 92.66% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a report on Friday, July 11th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.00.

Pathward Financial Stock Down 0.4%

Shares of Pathward Financial stock traded down $0.30 during trading on Monday, reaching $78.44. 125,729 shares of the company traded hands, compared to its average volume of 193,687. The firm has a market capitalization of $1.87 billion, a PE ratio of 10.38 and a beta of 0.62. Pathward Financial, Inc. has a 1-year low of $62.79 and a 1-year high of $86.00. The company has a 50 day moving average price of $78.19 and a 200-day moving average price of $76.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.77.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.24. The firm had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 earnings per share. As a group, equities research analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

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

About Pathward Financial

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.