Pathward Financial, Inc. $CASH Shares Purchased by Intech Investment Management LLC

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 shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 69.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,280 shares of the savings and loans company's stock after buying an additional 22,182 shares during the quarter. Intech Investment Management LLC owned approximately 0.23% of Pathward Financial worth $3,960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC raised its stake in shares of Pathward Financial by 264.1% during the 1st quarter. Millennium Management LLC now owns 128,645 shares of the savings and loans company's stock worth $9,385,000 after buying an additional 93,308 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Pathward Financial by 61.3% during the 1st quarter. AQR Capital Management LLC now owns 9,152 shares of the savings and loans company's stock worth $668,000 after buying an additional 3,479 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Pathward Financial by 21.2% in the first quarter. Royal Bank of Canada now owns 5,057 shares of the savings and loans company's stock valued at $369,000 after acquiring an additional 886 shares in the last quarter. Vident Advisory LLC increased its position in Pathward Financial by 17.6% during the 1st quarter. Vident Advisory LLC now owns 42,357 shares of the savings and loans company's stock worth $3,090,000 after purchasing an additional 6,354 shares in the last quarter. Finally, Comerica Bank increased its position in Pathward Financial by 89.8% during the 1st quarter. Comerica Bank now owns 26,696 shares of the savings and loans company's stock worth $1,948,000 after purchasing an additional 12,632 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company's stock.

Pathward Financial Price Performance

Pathward Financial stock traded up $1.81 during midday trading on Thursday, reaching $77.53. 80,577 shares of the company were exchanged, compared to its average volume of 192,130. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 10.26 and a beta of 0.64. The firm's 50-day simple moving average is $77.74 and its 200-day simple moving average is $76.58. Pathward Financial, Inc. has a 1 year low of $62.79 and a 1 year 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.

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

Pathward Financial Announces Dividend

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

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price objective on Pathward Financial from $86.00 to $88.00 and gave the stock a "market perform" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company 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.