Invesco Ltd. Buys 72,542 Shares of Pathward Financial, Inc. $CASH

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. raised its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 30.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 307,261 shares of the savings and loans company's stock after purchasing an additional 72,542 shares during the period. Invesco Ltd. owned 1.29% of Pathward Financial worth $22,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CASH. Revolve Wealth Partners LLC bought a new position in shares of Pathward Financial during the 4th quarter valued at about $267,437,000. Wells Fargo & Company MN raised its position in shares of Pathward Financial by 28.1% during the 4th quarter. Wells Fargo & Company MN now owns 14,116 shares of the savings and loans company's stock valued at $1,039,000 after buying an additional 3,100 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Pathward Financial by 9.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 18,062 shares of the savings and loans company's stock valued at $1,329,000 after buying an additional 1,513 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Pathward Financial during the 4th quarter valued at about $201,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Pathward Financial during the 4th quarter valued at about $412,000. Institutional investors own 92.66% of the company's stock.

Pathward Financial Stock Performance

Pathward Financial stock opened at $75.75 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.77. Pathward Financial, Inc. has a 1-year low of $62.79 and a 1-year high of $86.00. The firm has a market capitalization of $1.81 billion, a P/E ratio of 10.02 and a beta of 0.62. The company's 50-day moving average is $78.04 and its 200 day moving average is $76.84.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.24. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. During the same period in the prior year, the company posted $1.66 EPS. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given 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 was Friday, June 13th. Pathward Financial's dividend payout ratio is 2.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CASH. Piper Sandler upped their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods upped their target price on shares of Pathward Financial from $86.00 to $88.00 and gave the company 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 assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.00.

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.

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