Meeder Asset Management Inc. Takes $1.28 Million Position in Pathward Financial, Inc. (NASDAQ:CASH)

Key Points

• Meeder Asset Management Inc. invested approximately $1.28 million in Pathward Financial, purchasing 17,548 shares, representing about 0.07% ownership of the company.
• Several large institutional investors, including Revolve Wealth Partners LLC and JPMorgan Chase & Co., significantly increased their stakes in Pathward Financial during the 4th quarter.
• Pathward Financial reported a quarterly earnings per share of $1.81, exceeding expectations and showing a 10.8% year-over-year revenue increase.

Meeder Asset Management Inc. acquired a new stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,548 shares of the savings and loans company's stock, valued at approximately $1,280,000. Meeder Asset Management Inc. owned 0.07% of Pathward Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Pathward Financial in the 1st quarter valued at about $35,000. Sterling Capital Management LLC increased its position 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 worth $43,000 after purchasing an additional 516 shares during the last quarter. USAdvisors Wealth Management LLC raised its stake in 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 purchasing an additional 164 shares in the last quarter. Bank of Montreal Can bought a new stake in Pathward Financial during the fourth quarter valued at approximately $201,000. Finally, AXA S.A. purchased a new position in Pathward Financial in the 4th quarter worth approximately $203,000. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Pathward Financial Trading Down 0.8%

Pathward Financial stock traded down $0.60 during trading hours on Friday, reaching $75.04. The stock had a trading volume of 169,850 shares, compared to its average volume of 199,814. The company has a fifty day simple moving average of $78.74 and a 200-day simple moving average of $77.19. Pathward Financial, Inc. has a 52 week low of $60.42 and a 52 week high of $86.00. The stock has a market cap of $1.79 billion, a PE ratio of 9.92 and a beta of 0.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.76.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted 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 net margin of 22.23% and a return on equity of 22.16%. The firm had revenue of $195.80 million during the quarter, compared to analysts' expectations of $184.80 million. During the same period last year, the company posted $1.66 EPS. The company's quarterly revenue was up 10.8% compared to the same quarter last year. Analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CASH shares. Piper Sandler boosted their target price on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods boosted their price objective on Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a research report on Friday, July 11th.

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.