312,478 Shares in Pathward Financial, Inc. $CASH Bought by Nuveen LLC

Key Points

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Nuveen LLC bought a new stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 312,478 shares of the savings and loans company's stock, valued at approximately $22,795,000. Nuveen LLC owned about 1.31% of Pathward Financial at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CASH. Revolve Wealth Partners LLC purchased a new stake in Pathward Financial during the 4th quarter valued at $267,437,000. Putney Financial Group LLC purchased a new stake in Pathward Financial during the 4th quarter valued at $32,223,000. Neumeier Poma Investment Counsel LLC purchased a new stake in Pathward Financial during the 1st quarter valued at $9,679,000. Aptus Capital Advisors LLC purchased a new stake in Pathward Financial during the 4th quarter valued at $7,343,000. Finally, Invesco Ltd. raised its stake in Pathward Financial by 30.9% during the 1st quarter. Invesco Ltd. now owns 307,261 shares of the savings and loans company's stock valued at $22,415,000 after buying an additional 72,542 shares during the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, 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. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $91.00.

Pathward Financial Stock Performance

Shares of NASDAQ:CASH traded up $3.58 during midday trading 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 debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.77. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 10.42 and a beta of 0.62. Pathward Financial, Inc. has a 12-month low of $62.79 and a 12-month high of $86.00. The company has a fifty day moving average of $78.11 and a two-hundred day moving average of $76.80.

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 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%.Pathward Financial's revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 EPS. On average, equities research analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

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

Pathward Financial 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.