Pathward Financial, Inc. (NASDAQ:CASH) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its stake in Pathward Financial by 99.2%, owning a total of 24,846 shares valued at approximately $1.8 million as of the latest reporting period.
• Pathward Financial reported a quarterly EPS of $1.81, exceeding analyst expectations and showing a 10.8% revenue growth compared to last year.
• Analysts have raised their target prices for Pathward Financial, with Piper Sandler increasing their target from $91 to $94, reflecting growing confidence in the stock’s performance.

XTX Topco Ltd grew its holdings in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 99.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,846 shares of the savings and loans company's stock after buying an additional 12,376 shares during the quarter. XTX Topco Ltd owned about 0.10% of Pathward Financial worth $1,813,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Pathward Financial during the first quarter worth $35,000. Sterling Capital Management LLC increased its position in Pathward Financial by 726.8% during the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock worth $43,000 after buying an additional 516 shares in the last quarter. USAdvisors Wealth Management LLC increased its position in Pathward Financial by 37.0% during the first quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock worth $44,000 after buying an additional 164 shares in the last quarter. Bank of Montreal Can purchased a new position in Pathward Financial during the fourth quarter worth $201,000. Finally, AXA S.A. purchased a new position in Pathward Financial during the fourth quarter worth $203,000. 92.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CASH has been the subject of several recent research reports. Keefe, Bruyette & Woods raised their price target 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. Piper Sandler raised their price objective on Pathward Financial from $91.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd.

Pathward Financial Trading Down 1.1%

Shares of CASH stock traded down $0.84 during mid-day trading on Friday, hitting $74.79. 359,656 shares of the company's stock were exchanged, compared to its average volume of 201,146. Pathward Financial, Inc. has a fifty-two week low of $60.42 and a fifty-two week high of $86.00. The stock has a 50-day simple moving average of $78.74 and a two-hundred day simple moving average of $77.19. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 9.89 and a beta of 0.62.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.24. Pathward Financial had a return on equity of 22.16% and a net margin of 22.23%. The business had revenue of $195.80 million for the quarter, compared to analysts' expectations of $184.80 million. During the same quarter last year, the firm earned $1.66 earnings per share. The business's revenue 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 fiscal year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $0.05 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. Pathward Financial's dividend payout ratio (DPR) 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.