Rhumbline Advisers Reduces Position 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 decreased its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,407 shares of the savings and loans company's stock after selling 4,277 shares during the quarter. Rhumbline Advisers owned about 0.28% of Pathward Financial worth $4,917,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Revolve Wealth Partners LLC purchased a new stake in shares of Pathward Financial during the fourth quarter worth $267,437,000. American Century Companies Inc. grew its holdings in shares of Pathward Financial by 6.7% in the first quarter. American Century Companies Inc. now owns 686,423 shares of the savings and loans company's stock valued at $50,075,000 after purchasing an additional 43,273 shares during the period. Putney Financial Group LLC purchased a new stake in shares of Pathward Financial in the fourth quarter valued at about $32,223,000. Nuveen Asset Management LLC grew its holdings in shares of Pathward Financial by 4.3% in the fourth quarter. Nuveen Asset Management LLC now owns 383,036 shares of the savings and loans company's stock valued at $28,184,000 after purchasing an additional 15,740 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Pathward Financial in the first quarter valued at about $22,795,000. Hedge funds and other institutional investors own 92.66% of the company's stock.

Pathward Financial Trading Down 1.2%

Shares of CASH stock opened at $75.57 on Friday. The firm has a market cap of $1.72 billion, a PE ratio of 10.00 and a beta of 0.64. Pathward Financial, Inc. has a 1-year low of $62.79 and a 1-year high of $86.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.78 and a quick ratio of 0.77. The company has a 50-day moving average of $78.24 and a two-hundred day moving average of $76.62.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued 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. The business had revenue of $195.80 million for the quarter, compared to analysts' expectations of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.53%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 earnings per share. On average, analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. Pathward Financial's dividend payout ratio (DPR) is presently 2.65%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their target price on shares of 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 investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.00.

Pathward Financial Company 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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