Jupiter Asset Management Ltd. Acquires 54,924 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Key Points

• Jupiter Asset Management Ltd. increased its stake in Pathward Financial by 54.7%, owning approximately 0.65% of the company valued at $11.3 million after acquiring additional shares in Q1.
• Pathward Financial's shares opened at $74.79, with analysts projecting a 7.26 EPS for the current fiscal year, following a quarterly earnings report that beat estimates.
• The company declared a quarterly dividend of $0.05, resulting in an annualized dividend yield of 0.3%, with a low payout ratio of 2.65%.

Jupiter Asset Management Ltd. raised its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 54.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,269 shares of the savings and loans company's stock after purchasing an additional 54,924 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.65% of Pathward Financial worth $11,327,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Revolve Wealth Partners LLC bought a new position in Pathward Financial during the 4th quarter worth $267,437,000. Raymond James Financial Inc. bought a new position in Pathward Financial during the 4th quarter worth $279,000. Sei Investments Co. increased its position in Pathward Financial by 40.3% during the 4th quarter. Sei Investments Co. now owns 37,105 shares of the savings and loans company's stock worth $2,730,000 after buying an additional 10,657 shares during the period. JPMorgan Chase & Co. increased its position in Pathward Financial by 52.2% during the 4th quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company's stock worth $41,885,000 after buying an additional 195,331 shares during the period. Finally, Pictet Asset Management Holding SA bought a new position in Pathward Financial during the 4th quarter worth $210,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Pathward Financial Price Performance

Shares of NASDAQ CASH traded down $0.82 during mid-day trading on Thursday, reaching $72.99. The company had a trading volume of 26,701 shares, compared to its average volume of 200,021. 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, Inc. has a one year low of $60.49 and a one year high of $86.00. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 9.65 and a beta of 0.62. The business's 50-day simple moving average is $78.49 and its 200 day simple moving average is $77.12.

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 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.24. Pathward Financial had a return on equity of 22.16% and a net margin of 22.23%. The company had revenue of $195.80 million for the quarter, compared to analysts' expectations of $184.80 million. During the same quarter last year, the business earned $1.66 earnings per share. Pathward Financial's revenue was up 10.8% on a year-over-year basis. On average, research analysts predict that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.05 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Pathward Financial's dividend payout ratio (DPR) is presently 2.65%.

Analyst Upgrades and Downgrades

CASH has been the topic of several recent research reports. Piper Sandler increased their price objective on Pathward Financial from $91.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods raised their price target 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.

About Pathward Financial

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.