Wealth Enhancement Advisory Services LLC Sells 25,636 Shares of Pathward Financial, Inc. $CASH

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Pathward Financial, Inc. by 10.9%, now holding 209,369 shares valued at approximately $17.3 million.
• Analysts have upgraded Pathward Financial's target price from $86.00 to $88.00, with a consensus rating of "Moderate Buy" and a target price of $91.00.
• Pathward Financial recently reported $1.81 earnings per share for the quarter, exceeding estimates and reflecting a year-over-year revenue increase of 10.8%.

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,369 shares of the savings and loans company's stock after selling 25,636 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.88% of Pathward Financial worth $17,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC purchased a new position in Pathward Financial during the 1st quarter valued at approximately $235,000. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $5,799,000 after acquiring an additional 71,458 shares during the last quarter. SG Americas Securities LLC purchased a new position in Pathward Financial in the first quarter worth approximately $572,000. GAMMA Investing LLC raised its holdings in Pathward Financial by 8,971.9% in the first quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company's stock valued at $3,342,000 after acquiring an additional 45,308 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Pathward Financial by 89.8% during the first quarter. Comerica Bank now owns 26,696 shares of the savings and loans company's stock worth $1,948,000 after purchasing an additional 12,632 shares in the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their target price on 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 analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $91.00.

Pathward Financial Trading Down 0.9%

CASH stock traded down $0.73 during midday trading on Friday, reaching $76.33. The stock had a trading volume of 655,738 shares, compared to its average volume of 170,129. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 10.10 and a beta of 0.64. Pathward Financial, Inc. has a twelve month low of $62.79 and a twelve month 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 business has a fifty day simple moving average of $77.48 and a two-hundred day simple moving average of $76.66.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.24. Pathward Financial had a net margin of 22.23% and a return on equity of 22.53%. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $184.80 million. During the same period in the previous year, the firm posted $1.66 earnings per share. Pathward Financial's revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

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