Pathward Financial, Inc. $CASH Shares Sold by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. has reduced its stake in Pathward Financial by 39.5%, selling 21,741 shares and now holding approximately 0.14% of the company.
• Several institutional investors have increased their holdings in Pathward Financial, with 92.66% of the company's stock now owned by such entities.
• Pathward Financial recently reported quarterly earnings that surpassed estimates, with an EPS of $1.81 against an expected $1.57, and announced a quarterly dividend of $0.05 per share.

Epoch Investment Partners Inc. reduced its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 39.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,272 shares of the savings and loans company's stock after selling 21,741 shares during the quarter. Epoch Investment Partners Inc. owned about 0.14% of Pathward Financial worth $2,427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Comerica Bank lifted its position in shares of Pathward Financial by 89.8% in the first quarter. Comerica Bank now owns 26,696 shares of the savings and loans company's stock valued at $1,948,000 after acquiring an additional 12,632 shares in the last quarter. Van Hulzen Asset Management LLC acquired a new position in Pathward Financial in the first quarter valued at $1,787,000. Hsbc Holdings PLC increased its stake in Pathward Financial by 295.6% in the first quarter. Hsbc Holdings PLC now owns 51,587 shares of the savings and loans company's stock valued at $3,763,000 after purchasing an additional 38,548 shares during the last quarter. Wellington Management Group LLP acquired a new position in Pathward Financial in the first quarter valued at $12,999,000. Finally, Aptus Capital Advisors LLC increased its stake in Pathward Financial by 12.7% in the first quarter. Aptus Capital Advisors LLC now owns 112,516 shares of the savings and loans company's stock valued at $8,208,000 after purchasing an additional 12,722 shares during the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Pathward Financial Trading Down 0.8%

NASDAQ:CASH traded down $0.65 on Friday, hitting $79.47. 200,050 shares of the stock were exchanged, compared to its average volume of 168,936. 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 fifty-two week low of $62.79 and a fifty-two week high of $86.00. The stock has a market cap of $1.90 billion, a PE ratio of 10.51 and a beta of 0.62. The stock has a fifty day moving average of $78.73 and a 200-day moving average of $76.75.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $184.80 million. During the same quarter last year, the firm earned $1.66 earnings per share. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

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

Analysts Set New Price Targets

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

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.