Aptus Capital Advisors LLC Acquires 12,722 Shares of Pathward Financial, Inc. $CASH

Key Points

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Aptus Capital Advisors LLC raised its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 12.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 112,516 shares of the savings and loans company's stock after purchasing an additional 12,722 shares during the period. Aptus Capital Advisors LLC owned 0.47% of Pathward Financial worth $8,208,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. USAdvisors Wealth Management LLC grew its holdings in Pathward Financial by 37.0% during the first quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock valued at $44,000 after purchasing an additional 164 shares during the period. Diversified Trust Co grew its holdings in Pathward Financial by 1.9% during the first quarter. Diversified Trust Co now owns 9,097 shares of the savings and loans company's stock valued at $664,000 after purchasing an additional 166 shares during the period. Cetera Investment Advisers grew its holdings in Pathward Financial by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 6,107 shares of the savings and loans company's stock valued at $449,000 after purchasing an additional 171 shares during the period. HighTower Advisors LLC grew its holdings in 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 valued at $358,000 after purchasing an additional 175 shares during the period. Finally, SummerHaven Investment Management LLC grew its holdings in Pathward Financial by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 13,271 shares of the savings and loans company's stock valued at $968,000 after purchasing an additional 181 shares during the period. Institutional investors own 92.66% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price target on 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.00.

Pathward Financial Price Performance

Shares of NASDAQ CASH traded up $3.58 during mid-day trading on Friday, reaching $78.74. The company's stock had a trading volume of 187,548 shares, compared to its average volume of 193,687. The firm has a market capitalization of $1.88 billion, a PE ratio of 10.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.77. The stock has a fifty day moving average of $78.11 and a two-hundred day moving average of $76.74. Pathward Financial, Inc. has a 52 week low of $62.79 and a 52 week high of $86.00.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.24. The firm had revenue of $195.80 million during 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 business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.66 earnings per share. As a group, sell-side analysts anticipate that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

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