Natixis Advisors LLC Increases Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Key Points

• Natixis Advisors LLC increased its stake in Pathward Financial by 14.7% in Q1, holding 27,121 shares valued at approximately $1.98 million.
• Pathward Financial reported a quarterly EPS of $1.81, exceeding analysts' expectations, with revenues reaching $195.80 million.
• Recent analyst upgrades have set price targets for Pathward Financial, with Piper Sandler raising it to $94.00 and Keefe, Bruyette & Woods to $88.00.

Natixis Advisors LLC lifted its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 14.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,121 shares of the savings and loans company's stock after buying an additional 3,481 shares during the period. Natixis Advisors LLC owned approximately 0.11% of Pathward Financial worth $1,978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CASH. Opal Wealth Advisors LLC purchased a new stake in shares of Pathward Financial in the 1st quarter valued at $35,000. Sterling Capital Management LLC lifted its stake in shares of Pathward Financial by 726.8% in the 4th quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock valued at $43,000 after purchasing an additional 516 shares during the period. USAdvisors Wealth Management LLC lifted its stake in shares of Pathward Financial by 37.0% in the 1st 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 during the period. Vestcor Inc acquired a new position in shares of Pathward Financial in the 1st quarter valued at $123,000. Finally, Bank of Montreal Can acquired a new position in shares of Pathward Financial in the 4th quarter valued at $201,000. Hedge funds and other institutional investors own 92.66% of the company's stock.

Pathward Financial Price Performance

NASDAQ:CASH traded up $1.49 during trading hours on Friday, reaching $73.81. 151,754 shares of the company were exchanged, compared to its average volume of 196,952. 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 stock's 50-day moving average is $78.29 and its 200-day moving average is $77.04. The firm has a market cap of $1.76 billion, a PE ratio of 9.76 and a beta of 0.62. Pathward Financial, Inc. has a twelve month low of $60.49 and a twelve month high of $86.00.

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. The company had revenue of $195.80 million during the quarter, compared to analysts' expectations of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. On average, sell-side analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share 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 given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, June 13th. Pathward Financial's dividend payout ratio is 2.65%.

Analyst Upgrades and Downgrades

CASH has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted 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 note on Friday, July 11th. Piper Sandler boosted their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd.

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.