Pathward Financial, Inc. $CASH Shares Purchased by Comerica Bank

Comerica Bank increased its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 89.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,696 shares of the savings and loans company's stock after buying an additional 12,632 shares during the quarter. Comerica Bank owned about 0.11% of Pathward Financial worth $1,948,000 at the end of the most recent reporting period.

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

Pathward Financial Price Performance

NASDAQ:CASH opened at $78.96 on Wednesday. Pathward Financial, Inc. has a 52 week low of $62.79 and a 52 week high of $86.00. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.88 billion, a P/E ratio of 10.44 and a beta of 0.64. The stock's fifty day moving average is $78.85 and its two-hundred day moving average is $76.74.

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

Pathward Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price objective on Pathward Financial from $86.00 to $88.00 and gave the stock a "market perform" rating in a research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $91.00.

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.

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