Janney Montgomery Scott LLC Makes New Investment in Pathward Financial, Inc. $CASH

Key Points

• Janney Montgomery Scott LLC has acquired 5,189 shares of Pathward Financial, valued at approximately $411,000, indicating renewed institutional interest in the company.
• Pathward Financial has seen its stock rated as a "Moderate Buy" by analysts, with a consensus price target of $91.00 following positive earnings performance exceeding estimates.
• The company's recent quarterly dividend was declared at $0.05 per share, representing an annual yield of 0.3%, reflecting its stable financial position.

Janney Montgomery Scott LLC bought a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,189 shares of the savings and loans company's stock, valued at approximately $411,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its position in shares of Pathward Financial by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,468 shares of the savings and loans company's stock worth $1,066,000 after purchasing an additional 197 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Pathward Financial by 6.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,022 shares of the savings and loans company's stock worth $1,108,000 after purchasing an additional 809 shares during the period. Maseco LLP acquired a new position in shares of Pathward Financial in the 2nd quarter worth approximately $31,000. Sheets Smith Wealth Management acquired a new position in shares of Pathward Financial in the 2nd quarter worth approximately $276,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Pathward Financial in the 2nd quarter worth approximately $416,000. 92.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CASH shares. Keefe, Bruyette & Woods boosted their price target on shares of Pathward Financial from $86.00 to $88.00 and gave the stock a "market perform" rating in a research report on Friday, July 11th. Weiss Ratings restated a "buy (b)" rating on shares of Pathward Financial in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $91.00.

Pathward Financial Stock Up 2.1%

Pathward Financial stock opened at $71.21 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 12-month low of $64.45 and a 12-month high of $86.00. The firm's fifty day moving average is $75.86 and its 200 day moving average is $76.80. The company has a market capitalization of $1.62 billion, a PE ratio of 9.42 and a beta of 0.62.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.24. Pathward Financial had a net margin of 22.23% and a return on equity of 22.53%. The company had revenue of $195.80 million for the quarter, compared to the consensus estimate of $184.80 million. During the same quarter in the previous year, the company earned $1.66 EPS. Pathward Financial's quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

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

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.

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