Pathward Financial, Inc. $CASH Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Pathward Financial by 30.9% during the 1st quarter, acquiring an additional 72,542 shares and holding a total of 307,261 shares valued at approximately $22.4 million.
• Pathward Financial reported a net margin of 22.23% and earnings of $1.81 per share for the last quarter, exceeding analyst expectations of $1.57.
• The company recently announced a quarterly dividend of $0.05, representing a yield of 0.3% based on an annualized basis.

Invesco Ltd. grew its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 30.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,261 shares of the savings and loans company's stock after buying an additional 72,542 shares during the quarter. Invesco Ltd. owned 1.29% of Pathward Financial worth $22,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CASH. Opal Wealth Advisors LLC acquired a new stake in shares of Pathward Financial in the first quarter valued at $35,000. Sterling Capital Management LLC grew its stake in shares of Pathward Financial by 726.8% in the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock valued at $43,000 after buying an additional 516 shares in the last quarter. USAdvisors Wealth Management LLC grew its stake in shares of Pathward Financial by 37.0% in the first 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 acquired a new stake in shares of Pathward Financial in the first quarter valued at $123,000. Finally, Bank of Montreal Can acquired a new stake in shares of Pathward Financial in the fourth quarter valued at $201,000. 92.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Pathward Financial Stock Up 1.1%

CASH traded up $0.84 on Tuesday, hitting $79.28. 162,515 shares of the company were exchanged, compared to its average volume of 190,712. Pathward Financial, Inc. has a twelve month low of $62.79 and a twelve month high of $86.00. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 10.49 and a beta of 0.62. 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 firm has a 50-day moving average price of $78.31 and a two-hundred day moving average price of $76.75.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its earnings results on Monday, July 28th. The savings and loans company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.57 by $0.24. Pathward Financial had a return on equity of 22.16% and a net margin of 22.23%.The firm had revenue of $195.80 million during the quarter, compared to analysts' expectations of $184.80 million. During the same period in the previous year, the firm posted $1.66 EPS. Pathward Financial's revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities 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 will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, September 10th. Pathward Financial's payout ratio is presently 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.