Bank of America Corp DE Makes New Investment in Pathward Financial, Inc. $CASH

Key Points

• Bank of America acquired 279,600 shares of Pathward Financial in the second quarter, valued at approximately $24.3 million and representing a 1.35% stake. Institutional investors collectively own 92.66% of the company.
• Pathward Financial shares opened at $73.27, down 1.7%, and remain below their 52-week high of $101.26. The company’s latest quarterly results missed expectations, reporting $1.37 in EPS versus the $1.95 consensus estimate.
• The company declared a quarterly dividend of $0.05 per share, equal to an annualized yield of 0.3%. Analysts maintain a consensus “Buy” rating with an average price target of $101.

Bank of America Corp DE acquired a new stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 279,600 shares of the savings and loans company's stock, valued at approximately $24,342,000. Bank of America Corp DE owned 1.35% of Pathward Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its position in Pathward Financial by 225.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 853 shares of the savings and loans company's stock valued at $61,000 after buying an additional 591 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Pathward Financial during the fourth quarter worth $77,000. PNC Financial Services Group Inc. raised its stake in shares of Pathward Financial by 9.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,310 shares of the savings and loans company's stock valued at $206,000 after acquiring an additional 200 shares in the last quarter. Procyon Advisors LLC acquired a new stake in shares of Pathward Financial in the first quarter valued at $229,000. Finally, Clear Harbor Asset Management LLC purchased a new position in Pathward Financial in the second quarter valued at $254,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Pathward Financial Trading Down 1.7%

Shares of NASDAQ:CASH opened at $73.27 on Thursday. Pathward Financial, Inc. has a 52 week low of $65.87 and a 52 week high of $101.26. The company's 50 day moving average is $83.88 and its two-hundred day moving average is $86.23. The company has a market cap of $1.52 billion, a PE ratio of 9.18 and a beta of 0.60. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The savings and loans company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.58). Pathward Financial had a net margin of 21.03% and a return on equity of 20.61%. The business had revenue of $189.64 million during the quarter, compared to analysts' expectations of $191.18 million. 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. Equities analysts predict that Pathward Financial, Inc. will post 7.93 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 10th. Pathward Financial's dividend payout ratio is 2.51%.

Analyst Ratings Changes

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

About Pathward Financial

Pathward Financial, Inc NASDAQ: CASH is a financial services holding company headquartered in Sioux Falls, South Dakota. Its principal subsidiary, Pathward, National Association, is a federally chartered bank that provides banking and financial solutions through a range of business lines rather than operating primarily as a traditional branch-based bank.

Pathward's offerings include consumer banking products, prepaid and debit card programs, tax-related financial services, payments solutions and commercial finance products.

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