Nuveen LLC Buys New Position in Pathward Financial, Inc. $CASH

Key Points

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Nuveen LLC bought a new position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 312,478 shares of the savings and loans company's stock, valued at approximately $22,795,000. Nuveen LLC owned 1.31% of Pathward Financial at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new stake in shares of Pathward Financial in the 4th quarter worth $267,437,000. Putney Financial Group LLC purchased a new stake in shares of Pathward Financial in the 4th quarter worth $32,223,000. Nuveen Asset Management LLC lifted its holdings in shares of Pathward Financial by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 383,036 shares of the savings and loans company's stock worth $28,184,000 after buying an additional 15,740 shares during the period. Invesco Ltd. lifted its holdings in shares of Pathward Financial by 30.9% in the 1st quarter. Invesco Ltd. now owns 307,261 shares of the savings and loans company's stock worth $22,415,000 after buying an additional 72,542 shares during the period. Finally, Mawer Investment Management Ltd. lifted its holdings in shares of Pathward Financial by 11.1% in the 1st quarter. Mawer Investment Management Ltd. now owns 287,644 shares of the savings and loans company's stock worth $20,984,000 after buying an additional 28,829 shares during the period. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their target price 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 equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Pathward Financial presently has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Pathward Financial Stock Up 4.8%

Shares of CASH traded up $3.58 during trading hours on Friday, hitting $78.74. The company had a trading volume of 187,548 shares, compared to its average volume of 192,398. The company has a market capitalization of $1.88 billion, a PE ratio of 10.42 and a beta of 0.62. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a one year low of $62.79 and a one year high of $86.00. The company's fifty day moving average price is $78.11 and its two-hundred day moving average price is $76.77.

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

Pathward Financial Dividend Announcement

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