Public Sector Pension Investment Board Has $8.38 Million Stake in Pathward Financial, Inc. $CASH

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 lowered its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 51.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,931 shares of the savings and loans company's stock after selling 120,006 shares during the period. Public Sector Pension Investment Board owned 0.48% of Pathward Financial worth $8,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Pathward Financial during the 1st quarter valued at $35,000. Sterling Capital Management LLC raised its position in 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 boosted its stake in shares of 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 valued at $44,000 after purchasing an additional 164 shares in the last quarter. Vestcor Inc bought a new stake in shares of Pathward Financial during the first quarter worth about $123,000. Finally, Bank of Montreal Can bought a new stake in shares of Pathward Financial during the fourth quarter worth about $201,000. Institutional investors own 92.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CASH shares. Keefe, Bruyette & Woods raised their price objective on shares of Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Piper Sandler raised their price target on shares of Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Pathward Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.00.

Pathward Financial Stock Up 0.1%

Shares of CASH traded up $0.1030 during trading hours on Tuesday, hitting $75.5130. The stock had a trading volume of 23,798 shares, compared to its average volume of 198,721. Pathward Financial, Inc. has a 1-year low of $62.79 and a 1-year high of $86.00. The firm has a market capitalization of $1.80 billion, a P/E ratio of 9.97 and a beta of 0.62. The firm has a 50 day simple moving average of $78.10 and a 200-day simple moving average of $76.86. 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 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 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 analyst estimates of $184.80 million. During the same quarter in the prior year, the company earned $1.66 earnings per share. The company's quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

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