Royce & Associates LP Trims Position in Pathward Financial, Inc. (NASDAQ:CASH)

Key Points

• Royce & Associates LP reduced its stake in Pathward Financial by 18.9%, now holding 13,475 shares, valued at approximately $983,000.
• Pathward Financial reported a quarterly earnings per share of $1.81, exceeding analysts' expectations of $1.57, with revenues of $195.80 million increasing by 10.8% year-over-year.
• The company recently announced a $0.05 quarterly dividend, representing a yield of 0.25% and a payout ratio of 2.70%.

Royce & Associates LP lessened its position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,475 shares of the savings and loans company's stock after selling 3,139 shares during the period. Royce & Associates LP owned about 0.06% of Pathward Financial worth $983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CASH. Revolve Wealth Partners LLC purchased a new position in shares of Pathward Financial during the fourth quarter valued at approximately $267,437,000. Putney Financial Group LLC purchased a new position in shares of Pathward Financial during the fourth quarter valued at approximately $32,223,000. JPMorgan Chase & Co. raised its holdings in shares of Pathward Financial by 52.2% during the fourth quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company's stock valued at $41,885,000 after purchasing an additional 195,331 shares during the last quarter. FMR LLC raised 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 valued at $162,141,000 after purchasing an additional 151,316 shares during the last quarter. Finally, Aptus Capital Advisors LLC purchased a new position in shares of Pathward Financial during the fourth quarter valued at approximately $7,343,000. Institutional investors own 92.66% of the company's stock.

Analyst Ratings Changes

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

Pathward Financial Stock Performance

CASH stock traded down $1.11 during midday trading on Friday, reaching $74.53. 115,920 shares of the company's stock traded hands, compared to its average volume of 199,388. Pathward Financial, Inc. has a 52-week low of $60.42 and a 52-week high of $86.00. The stock has a market cap of $1.78 billion, a P/E ratio of 9.85 and a beta of 0.62. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The stock's 50-day moving average is $78.74 and its 200 day moving average is $77.19.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its earnings results 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. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The business had revenue of $195.80 million during the quarter, compared to analysts' expectations of $184.80 million. During the same period in the prior year, the company earned $1.66 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. As a group, analysts anticipate that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued 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 of this dividend was Friday, June 13th. Pathward Financial's dividend payout ratio is currently 2.65%.

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.