Charles Schwab Investment Management Inc. Sells 15,652 Shares of Pathward Financial, Inc. $CASH

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Pathward Financial, holding approximately $23.04 million worth after a 4.7% decrease in shares during the first quarter.
• Pathward Financial reported a 12-month revenue increase of 10.8%, earning $1.81 EPS for the last quarter, outperforming analyst estimates.
• The company announced a quarterly dividend of $0.05 per share, reflecting a 0.3% yield with a payout ratio of 2.65%.

Charles Schwab Investment Management Inc. reduced its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 315,803 shares of the savings and loans company's stock after selling 15,652 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.32% of Pathward Financial worth $23,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Revolve Wealth Partners LLC bought a new stake in Pathward Financial during the 4th quarter worth approximately $267,437,000. Putney Financial Group LLC bought a new stake in Pathward Financial during the 4th quarter worth approximately $32,223,000. Aptus Capital Advisors LLC bought a new stake in Pathward Financial during the 4th quarter worth approximately $7,343,000. Allspring Global Investments Holdings LLC grew its position in Pathward Financial by 1,023.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company's stock worth $5,799,000 after acquiring an additional 71,458 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in Pathward Financial by 54.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 155,269 shares of the savings and loans company's stock worth $11,327,000 after acquiring an additional 54,924 shares during the last quarter. 92.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Pathward Financial Trading Up 1.0%

CASH traded up $0.77 during mid-day trading on Wednesday, reaching $80.05. The stock had a trading volume of 109,004 shares, compared to its average volume of 181,463. The firm's fifty day simple moving average is $78.46 and its two-hundred day simple moving average is $76.77. 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 market capitalization of $1.91 billion, a P/E ratio of 10.59 and a beta of 0.62. 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 posted its quarterly earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.24. The company had revenue of $195.80 million for the quarter, compared to the consensus estimate of $184.80 million. Pathward Financial had a return on equity of 22.16% and a net margin of 22.23%.The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 EPS. On average, equities analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

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 paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. Pathward Financial's dividend payout ratio (DPR) is currently 2.65%.

Pathward Financial Company 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.