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. lowered its position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,341 shares of the savings and loans company's stock after selling 9,436 shares during the quarter. Pathward Financial accounts for about 1.8% of Phocas Financial Corp.'s investment portfolio, making the stock its 5th biggest holding. Phocas Financial Corp. owned about 0.68% of Pathward Financial worth $11,916,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC bought a new position in Pathward Financial during the 4th quarter worth about $267,437,000. FMR LLC grew its holdings in shares of Pathward Financial by 7.4% during the fourth quarter. FMR LLC now owns 2,203,603 shares of the savings and loans company's stock worth $162,141,000 after buying an additional 151,316 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Pathward Financial by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 711,538 shares of the savings and loans company's stock worth $52,365,000 after buying an additional 11,654 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Pathward Financial by 52.2% during the 4th quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company's stock worth $41,885,000 after acquiring an additional 195,331 shares during the last quarter. Finally, Putney Financial Group LLC bought a new position in shares of Pathward Financial during the 4th quarter worth approximately $32,223,000. Institutional investors own 92.66% of the company's stock.

Pathward Financial Stock Performance

CASH stock traded down $1.42 during trading hours on Thursday, reaching $72.38. The stock had a trading volume of 42,299 shares, compared to its average volume of 200,130. The stock has a 50-day simple moving average of $78.49 and a 200 day simple moving average of $77.12. Pathward Financial, Inc. has a fifty-two week low of $60.49 and a fifty-two week high of $86.00. The stock has a market capitalization of $1.73 billion, a PE ratio of 9.55 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.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Pathward Financial's revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS. Analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, June 13th. Pathward Financial's payout ratio is currently 2.65%.

Analysts Set New Price Targets

A number of analysts have recently commented on CASH shares. Keefe, Bruyette & Woods boosted their price objective on shares of 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 lifted their target price on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd.

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.