Connor Clark & Lunn Investment Management Ltd. Makes New $256,000 Investment in Pathward Financial, Inc. $CASH

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 3,503 shares of Pathward Financial, Inc., worth approximately $256,000, indicating growing interest from institutional investors in the company's stock.
• Pathward Financial has seen a positive upgrade from analysts, with Keefe, Bruyette & Woods increasing their price target from $86.00 to $88.00, while Piper Sandler raised it from $91.00 to $94.00.
• The company's latest earnings report showed a 10.8% year-over-year revenue increase and an EPS of $1.81, surpassing consensus estimates by $0.24, demonstrating solid financial performance.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,503 shares of the savings and loans company's stock, valued at approximately $256,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Pathward Financial in the first quarter valued at approximately $35,000. Sterling Capital Management LLC grew its stake in Pathward Financial by 726.8% in the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock valued at $43,000 after acquiring an additional 516 shares during the period. USAdvisors Wealth Management LLC grew its stake in Pathward Financial by 37.0% in the first quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock valued at $44,000 after acquiring an additional 164 shares during the period. Vestcor Inc acquired a new stake in Pathward Financial in the first quarter valued at approximately $123,000. Finally, Bank of Montreal Can acquired a new stake in Pathward Financial in the fourth quarter valued at approximately $201,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Pathward Financial Stock Up 1.1%

Shares of NASDAQ:CASH traded up $0.84 during mid-day trading on Tuesday, hitting $79.28. 162,515 shares of the company traded hands, compared to its average volume of 190,712. The stock has a market cap of $1.89 billion, a P/E ratio of 10.49 and a beta of 0.62. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 12-month low of $62.79 and a 12-month high of $86.00. The stock has a 50-day moving average price of $78.31 and a two-hundred day moving average price of $76.75.

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 for the quarter, compared to analysts' expectations of $184.80 million. Pathward Financial had a return on equity of 22.16% and a net margin of 22.23%.Pathward Financial's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. On average, equities research analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.20 annualized dividend and a yield of 0.3%. Pathward Financial's payout ratio is currently 2.65%.

Analyst Upgrades and Downgrades

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

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.