Bridgeway Capital Management LLC Sells 14,730 Shares of Pathward Financial, Inc. $CASH

Key Points

• Bridgeway Capital Management LLC reduced its stake in Pathward Financial by 16.9%, selling 14,730 shares, and now holds approximately 0.30% of the company.
• Analyst ratings for Pathward Financial indicate a "Moderate Buy" consensus with a target price increase from $86.00 to $88.00.
• Pathward Financial has announced a quarterly dividend of $0.05 per share, yielding 0.3% on an annualized basis.

Bridgeway Capital Management LLC lowered its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 16.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,401 shares of the savings and loans company's stock after selling 14,730 shares during the period. Bridgeway Capital Management LLC owned 0.30% of Pathward Financial worth $5,282,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CASH. Opal Wealth Advisors LLC bought a new position in shares of Pathward Financial during the 1st quarter worth about $35,000. USAdvisors Wealth Management LLC lifted its stake in Pathward Financial by 37.0% in the 1st quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock worth $44,000 after purchasing an additional 164 shares in the last quarter. Vestcor Inc purchased a new stake in shares of Pathward Financial during the 1st quarter valued at $123,000. AXA S.A. bought a new position in shares of Pathward Financial during the 4th quarter valued at $203,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Pathward Financial in the 1st quarter worth $219,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Pathward Financial Stock Performance

Shares of CASH traded up $0.38 during mid-day trading on Wednesday, hitting $76.97. 17,323 shares of the company traded hands, compared to its average volume of 193,085. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.78. The stock has a 50-day moving average price of $78.63 and a two-hundred day moving average price of $76.64. Pathward Financial, Inc. has a 1 year low of $62.79 and a 1 year high of $86.00. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 10.18 and a beta of 0.64.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.24. The company had revenue of $195.80 million during 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 22.41%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.66 earnings per share. Equities analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current 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 given 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 dividend payout ratio is presently 2.65%.

Analyst Upgrades and Downgrades

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

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.