Phocas Financial Corp. Sells 9,436 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Key Points

• Phocas Financial Corp. has reduced its holdings in Pathward Financial, Inc. by 5.5%, selling 9,436 shares, and now owns 163,341 shares worth approximately $11.9 million.
• Analysts have raised their price targets for Pathward Financial, with Piper Sandler increasing it to $94.00 and Keefe, Bruyette & Woods raising it to $88.00, both maintaining optimistic ratings.
• Pathward Financial recently announced a quarterly dividend of $0.05, yielding 0.3%, with a low debt-to-equity ratio of 0.04, indicating a strong financial position.

Phocas Financial Corp. decreased its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,341 shares of the savings and loans company's stock after selling 9,436 shares during the period. Pathward Financial makes up about 1.8% of Phocas Financial Corp.'s portfolio, making the stock its 5th largest position. Phocas Financial Corp. owned approximately 0.68% of Pathward Financial worth $11,916,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Pathward Financial in the first quarter valued at about $35,000. Sterling Capital Management LLC raised its holdings in shares of Pathward Financial by 726.8% in the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock valued at $43,000 after purchasing an additional 516 shares during the last quarter. USAdvisors Wealth Management LLC raised its holdings in shares of Pathward Financial by 37.0% in the first quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock valued at $44,000 after purchasing an additional 164 shares during the last quarter. Vestcor Inc purchased a new stake in shares of Pathward Financial in the first quarter valued at about $123,000. Finally, Bank of Montreal Can purchased a new stake in shares of Pathward Financial in the fourth quarter valued at about $201,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on CASH shares. Piper Sandler increased their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods increased their price target on shares of Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a research report on Friday, July 11th.

Pathward Financial Price Performance

Shares of NASDAQ:CASH opened at $74.79 on Friday. Pathward Financial, Inc. has a twelve month low of $60.42 and a twelve month high of $86.00. The firm has a market capitalization of $1.78 billion, a PE ratio of 9.89 and a beta of 0.62. 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 company has a 50-day moving average price of $78.69 and a two-hundred day moving average price of $77.18.

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, 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 22.16%. The firm had revenue of $195.80 million for the quarter, compared to the consensus estimate of $184.80 million. During the same period in the prior year, the firm posted $1.66 earnings per share. The company's revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Announces Dividend

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

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