Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board reduced its stake in Pathward Financial by 51.1%, owning approximately $8.38 million worth of shares at the end of the recent quarter.
• Piper Sandler and Keefe, Bruyette & Woods both raised their price targets for Pathward Financial, with Piper raising it from $91.00 to $94.00.
• Pathward Financial reported an EPS of $1.81 for the last quarter, exceeding the consensus estimate, along with a quarterly revenue of $195.80 million, reflecting a 10.8% year-over-year growth.

Public Sector Pension Investment Board cut its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 51.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,931 shares of the savings and loans company's stock after selling 120,006 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.48% of Pathward Financial worth $8,384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CASH. USAdvisors Wealth Management LLC boosted 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 acquiring an additional 164 shares during the period. Diversified Trust Co raised its stake in shares of Pathward Financial by 1.9% during the first quarter. Diversified Trust Co now owns 9,097 shares of the savings and loans company's stock worth $664,000 after purchasing an additional 166 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Pathward Financial by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 6,107 shares of the savings and loans company's stock worth $449,000 after purchasing an additional 171 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Pathward Financial by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 13,271 shares of the savings and loans company's stock worth $968,000 after purchasing an additional 181 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Pathward Financial in the first quarter worth $35,000. 92.66% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Price Performance

Shares of CASH traded down $1.34 during trading hours on Friday, reaching $75.30. 243,687 shares of the company traded hands, compared to its average volume of 196,830. 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 stock has a market capitalization of $1.80 billion, a PE ratio of 9.96 and a beta of 0.62. Pathward Financial, Inc. has a fifty-two week low of $62.79 and a fifty-two week high of $86.00. The stock has a fifty day simple moving average of $78.14 and a 200 day simple moving average of $76.91.

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 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.24. The business had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. Pathward Financial had a return on equity of 22.16% and a net margin of 22.23%. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 earnings per share. As a group, research analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Pathward Financial's dividend payout ratio (DPR) is presently 2.65%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased 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. Piper Sandler raised their price target 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.