Rhumbline Advisers Has $4.92 Million Holdings in Pathward Financial, Inc. $CASH

Key Points

• Rhumbline Advisers has reduced its stake in Pathward Financial, Inc. by 6.0%, now holding approximately 67,407 shares valued at $4.9 million.
• The company reported earnings of $1.81 EPS, surpassing analysts' expectations, with a year-over-year revenue increase of 10.8%.
• Pathward Financial has announced a quarterly dividend of $0.05 per share, with a payout ratio of 2.65%.

Rhumbline Advisers cut its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,407 shares of the savings and loans company's stock after selling 4,277 shares during the period. Rhumbline Advisers owned 0.28% of Pathward Financial worth $4,917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CASH. Revolve Wealth Partners LLC bought a new position in shares of Pathward Financial in the fourth quarter worth $267,437,000. Putney Financial Group LLC bought a new position in shares of Pathward Financial in the fourth quarter worth $32,223,000. Nuveen LLC bought a new position in shares of Pathward Financial in the first quarter worth $22,795,000. Wellington Management Group LLP bought a new position in shares of Pathward Financial in the first quarter worth $12,999,000. Finally, Neumeier Poma Investment Counsel LLC bought a new position in shares of Pathward Financial in the first quarter worth $9,679,000. Institutional investors own 92.66% of the company's stock.

Pathward Financial Price Performance

CASH stock traded up $1.34 during trading hours on Thursday, hitting $77.06. 282,564 shares of the stock traded hands, compared to its average volume of 137,494. The stock has a 50-day simple moving average of $77.60 and a 200 day simple moving average of $76.59. Pathward Financial, Inc. has a one year low of $62.79 and a one year high of $86.00. The company has a market cap of $1.75 billion, a P/E ratio of 10.19 and a beta of 0.64. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.24. Pathward Financial had a return on equity of 22.53% and a net margin of 22.23%.The business had revenue of $195.80 million during the quarter, compared to analysts' expectations of $184.80 million. During the same quarter last year, the business posted $1.66 earnings per share. The company's quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, September 10th. Pathward Financial's payout ratio is presently 2.65%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price target on Pathward Financial from $86.00 to $88.00 and gave the stock a "market perform" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Pathward Financial has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

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.