Bank of America Corp DE Raises Position in Pathward Financial, Inc. $CASH

Key Points

• Bank of America increased its Pathward Financial stake by 571.3% in the first quarter, owning 302,503 shares worth approximately $27 million. Institutional investors collectively own 92.66% of the company.
• Analysts maintain a favorable outlook, with an average “Buy” rating and a $101 price target, although Keefe, Bruyette & Woods and Piper Sandler recently lowered their targets.
• Pathward Financial reported quarterly EPS of $1.37, missing the $1.95 consensus estimate, while revenue of $189.64 million was slightly below expectations. The company also declared a $0.05 quarterly dividend, yielding approximately 0.2%.

Bank of America Corp DE grew its holdings in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 571.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,503 shares of the savings and loans company's stock after acquiring an additional 257,443 shares during the period. Bank of America Corp DE owned about 1.43% of Pathward Financial worth $26,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC grew its position in shares of Pathward Financial by 43,200.0% during the second quarter. EverSource Wealth Advisors LLC now owns 433 shares of the savings and loans company's stock worth $34,000 after buying an additional 432 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Pathward Financial by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 630 shares of the savings and loans company's stock worth $45,000 after acquiring an additional 118 shares during the last quarter. State of Wyoming acquired a new position in Pathward Financial during the 2nd quarter worth approximately $46,000. Rockefeller Capital Management L.P. grew its holdings in Pathward Financial by 225.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 853 shares of the savings and loans company's stock worth $61,000 after acquiring an additional 591 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Pathward Financial in the 4th quarter valued at approximately $77,000. Hedge funds and other institutional investors own 92.66% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

Pathward Financial Price Performance

Shares of CASH opened at $86.67 on Monday. Pathward Financial, Inc. has a 1-year low of $65.87 and a 1-year high of $101.26. The stock has a market cap of $1.80 billion, a PE ratio of 10.86 and a beta of 0.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a fifty day moving average price of $86.93 and a 200 day moving average price of $88.42.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The savings and loans company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.58). Pathward Financial had a return on equity of 20.61% and a net margin of 21.03%.The firm had revenue of $189.64 million for 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. As a group, sell-side analysts anticipate that Pathward Financial, Inc. will post 7.93 EPS for the current year.

Pathward Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Thursday, June 11th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, June 11th. Pathward Financial's dividend payout ratio (DPR) is currently 2.51%.

Pathward Financial Company Profile

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.

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