Counterpoint Mutual Funds LLC Invests $416,000 in Pathward Financial, Inc. $CASH

Key Points

• Counterpoint Mutual Funds LLC has invested approximately $416,000 in Pathward Financial, acquiring 5,252 shares during the second quarter.
• Pathward Financial reported earnings of $1.81 per share for the last quarter, exceeding analysts' expectations and resulting in a 10.8% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $0.05, with a dividend yield of 0.3% and a payout ratio of 2.65%.

Counterpoint Mutual Funds LLC bought a new stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,252 shares of the savings and loans company's stock, valued at approximately $416,000.

Other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new stake in shares of Pathward Financial in the first quarter worth about $235,000. Allspring Global Investments Holdings LLC lifted its position in Pathward Financial by 1,023.9% during 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 buying an additional 71,458 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Pathward Financial by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 235,005 shares of the savings and loans company's stock worth $17,144,000 after purchasing an additional 6,305 shares during the period. SG Americas Securities LLC bought a new position in Pathward Financial during the 1st quarter valued at approximately $572,000. Finally, GAMMA Investing LLC increased its stake in Pathward Financial by 8,971.9% during the 1st quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company's stock valued at $3,342,000 after purchasing an additional 45,308 shares in the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Pathward Financial Trading Down 2.1%

Shares of NASDAQ:CASH opened at $75.72 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.77. Pathward Financial, Inc. has a 1 year low of $62.79 and a 1 year high of $86.00. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 10.02 and a beta of 0.64. The business's 50 day moving average price is $77.24 and its 200-day moving average price is $76.69.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.24. Pathward Financial had a return on equity of 22.53% and a net margin of 22.23%.The business had revenue of $195.80 million for the quarter, compared to analysts' expectations of $184.80 million. During the same period in the previous year, the firm posted $1.66 EPS. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 10th. Pathward Financial's dividend payout ratio is currently 2.65%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective on shares of 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 research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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