Pathward Financial, Inc. $CASH Shares Sold by NFJ Investment Group LLC

Key Points

• NFJ Investment Group LLC has reduced its holdings in Pathward Financial by 56.9%, owning 20,010 shares after selling 26,370 shares in Q1.
• Keefe, Bruyette & Woods has raised their price target for Pathward Financial from $86.00 to $88.00 while maintaining a "market perform" rating.
• Pathward Financial recently announced a quarterly dividend of $0.05, with an ex-dividend date of September 10th.

NFJ Investment Group LLC lowered its position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 56.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,010 shares of the savings and loans company's stock after selling 26,370 shares during the period. NFJ Investment Group LLC owned about 0.08% of Pathward Financial worth $1,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CASH. Opal Wealth Advisors LLC acquired a new stake in shares of Pathward Financial during the first quarter worth about $35,000. USAdvisors Wealth Management LLC grew its holdings in shares of Pathward Financial by 37.0% during the first quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock worth $44,000 after buying an additional 164 shares during the last quarter. Vestcor Inc purchased a new position in shares of Pathward Financial during the first quarter worth about $123,000. AXA S.A. purchased a new position in shares of Pathward Financial during the fourth quarter worth about $203,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Pathward Financial during the first quarter worth about $219,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Analysts Set New Price Targets

Separately, 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 report on Friday, July 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $91.00.

Pathward Financial Stock Performance

CASH traded up $0.32 during trading on Thursday, reaching $76.77. The company's stock had a trading volume of 53,108 shares, compared to its average volume of 192,710. Pathward Financial, Inc. has a 52-week low of $62.79 and a 52-week high of $86.00. The company's fifty day moving average price is $78.50 and its 200-day moving average price is $76.64. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 10.15 and a beta of 0.64. 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 (NASDAQ:CASH - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.24. Pathward Financial had a return on equity of 22.41% and a net margin of 22.23%.The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. During the same quarter in the previous year, the company earned $1.66 EPS. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

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

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.