Intech Investment Management LLC Acquires 22,182 Shares of Pathward Financial, Inc. $CASH

Key Points

• Intech Investment Management LLC has increased its holdings in Pathward Financial, Inc. by 69.1%, owning a total of 54,280 shares valued at approximately $3.96 million following recent purchases.
• Pathward Financial reported a quarterly earnings per share (EPS) of $1.81, surpassing estimates and showing a 10.8% year-over-year revenue growth to $195.80 million.
• The company has announced a quarterly dividend of $0.05, representing an annual yield of 0.3%, with payment scheduled for October 1st.

Intech Investment Management LLC lifted its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 69.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,280 shares of the savings and loans company's stock after acquiring an additional 22,182 shares during the period. Intech Investment Management LLC owned 0.23% of Pathward Financial worth $3,960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CASH. Opal Wealth Advisors LLC bought a new position in Pathward Financial during the 1st quarter valued at approximately $35,000. USAdvisors Wealth Management LLC increased its position in Pathward Financial by 37.0% during the 1st quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock valued at $44,000 after buying an additional 164 shares in the last quarter. Vestcor Inc bought a new position in Pathward Financial during the 1st quarter valued at approximately $123,000. Envestnet Portfolio Solutions Inc. bought a new position in Pathward Financial during the 1st quarter valued at approximately $219,000. Finally, Concurrent Investment Advisors LLC bought a new position in Pathward Financial during the 1st quarter valued at approximately $235,000. Institutional investors own 92.66% of the company's stock.

Pathward Financial Stock Performance

NASDAQ CASH traded down $0.44 on Monday, hitting $75.13. 151,623 shares of the company traded hands, compared to its average volume of 125,917. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 9.94 and a beta of 0.64. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The business's 50 day moving average price is $78.08 and its 200-day moving average price is $76.60. Pathward Financial, Inc. has a 52-week low of $62.79 and a 52-week high of $86.00.

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 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 the consensus estimate of $184.80 million. Pathward Financial had a return on equity of 22.53% and a net margin of 22.23%.Pathward Financial's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 earnings per share. Equities analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

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

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their target price on Pathward Financial from $86.00 to $88.00 and gave the stock a "market perform" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Pathward Financial currently has a consensus rating of "Moderate Buy" and an average target price 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.