Pathward Financial, Inc. $CASH Stake Increased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Pathward Financial, Inc. by 295.6% in the first quarter, owning about $3.76 million in shares.
• Pathward Financial reported earnings of $1.81 per share for the recent quarter, beating expectations, with a 10.8% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.05, with a yield of 0.3%, to be paid on October 1st.

Hsbc Holdings PLC boosted its position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 295.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,587 shares of the savings and loans company's stock after acquiring an additional 38,548 shares during the period. Hsbc Holdings PLC owned about 0.22% of Pathward Financial worth $3,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new position in Pathward Financial during the 1st quarter worth approximately $235,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pathward Financial by 1,023.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company's stock valued at $5,799,000 after buying an additional 71,458 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Pathward Financial by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 235,005 shares of the savings and loans company's stock valued at $17,144,000 after buying an additional 6,305 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Pathward Financial in the 1st quarter valued at $572,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Pathward Financial by 8,971.9% in the 1st quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company's stock valued at $3,342,000 after buying an additional 45,308 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on shares of Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Pathward Financial Stock Performance

Shares of CASH stock traded down $0.65 during mid-day trading on Friday, hitting $79.47. The stock had a trading volume of 200,050 shares, compared to its average volume of 168,936. Pathward Financial, Inc. has a fifty-two week low of $62.79 and a fifty-two week high of $86.00. The firm has a market cap of $1.90 billion, a PE ratio of 10.51 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 0.77. The company's 50-day simple moving average is $78.73 and its 200-day simple moving average is $76.77.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.24. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The business's revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 EPS. Sell-side analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a $0.05 dividend. 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 dividend payout ratio (DPR) is currently 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.