Pathward Financial, Inc. (NASDAQ:CASH) Holdings Trimmed by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC reduced its stake in Pathward Financial by 21.7% in the first quarter, now owning 36,919 shares valued at approximately $2.7 million.
• Pathward Financial reported earnings of $1.81 EPS for the latest quarter, exceeding estimates and showing a 10.8% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.05 per share, resulting in a dividend yield of 0.3%, with a total annualized dividend of $0.20.

Informed Momentum Co LLC lowered its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 21.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,919 shares of the savings and loans company's stock after selling 10,202 shares during the quarter. Informed Momentum Co LLC owned about 0.15% of Pathward Financial worth $2,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new position in shares of Pathward Financial during the 1st quarter worth approximately $35,000. Sterling Capital Management LLC raised its position in shares of Pathward Financial by 726.8% during the 4th quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock worth $43,000 after purchasing an additional 516 shares during the last quarter. USAdvisors Wealth Management LLC grew its stake in Pathward Financial by 37.0% in the 1st quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock worth $44,000 after acquiring an additional 164 shares during the period. Vestcor Inc purchased a new stake in Pathward Financial in the 1st quarter worth approximately $123,000. Finally, Bank of Montreal Can purchased a new stake in Pathward Financial in the 4th quarter worth approximately $201,000. Hedge funds and other institutional investors own 92.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CASH. Keefe, Bruyette & Woods lifted their target price on shares of Pathward Financial from $86.00 to $88.00 and gave the stock a "market perform" rating in a research note on Friday, July 11th. Piper Sandler lifted their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd.

Pathward Financial Stock Down 1.7%

Pathward Financial stock traded down $1.34 during trading on Friday, reaching $75.30. 243,687 shares of the company's stock were exchanged, compared to its average volume of 196,830. Pathward Financial, Inc. has a 52-week low of $62.79 and a 52-week high of $86.00. 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 firm has a market cap of $1.80 billion, a price-to-earnings ratio of 9.96 and a beta of 0.62. The company's 50-day moving average is $78.14 and its two-hundred day moving average is $76.91.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.24. The business had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The company's revenue for the quarter 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, analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

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

Pathward Financial 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.