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

A number of other institutional investors also recently modified their holdings of CASH. Revolve Wealth Partners LLC bought a new stake in shares of Pathward Financial in the fourth quarter valued at about $267,437,000. Putney Financial Group LLC bought a new stake in shares of Pathward Financial in the fourth quarter valued at about $32,223,000. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Pathward Financial in the first quarter valued at about $9,679,000. Aptus Capital Advisors LLC bought a new stake in shares of Pathward Financial in the fourth quarter valued at about $7,343,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Pathward Financial by 1,023.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company's stock valued at $5,799,000 after purchasing an additional 71,458 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Piper Sandler boosted their price target on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Pathward Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Pathward Financial Stock Performance

CASH opened at $75.75 on Thursday. Pathward Financial, Inc. has a 52-week low of $62.79 and a 52-week high of $86.00. The firm has a market capitalization of $1.81 billion, a PE ratio of 10.02 and a beta of 0.62. 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 business's 50-day simple moving average is $78.04 and its 200 day simple moving average is $76.84.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.24. Pathward Financial had a return on equity of 22.16% and a net margin of 22.23%.The business had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. During the same quarter in the prior year, the company posted $1.66 earnings per share. Pathward Financial's revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, June 13th. Pathward Financial's payout ratio is 2.65%.

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.

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