Sheets Smith Wealth Management Invests $276,000 in Pathward Financial, Inc. $CASH

Key Points

• Sheets Smith Wealth Management invested approximately $276,000 in Pathward Financial, Inc., acquiring 3,490 shares, following a trend of increased hedge fund interest in the company.
• Analysts have raised their target price for Pathward Financial from $86.00 to $88.00 and given the stock a consensus rating of "Moderate Buy" with a price target of $91.00.
• Pathward Financial reported a 10.8% increase in revenue year-over-year, with an EPS of $1.81 for the last quarter, exceeding analyst estimates and indicating positive financial performance.

Sheets Smith Wealth Management bought a new stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,490 shares of the savings and loans company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC purchased a new position in Pathward Financial during the 1st quarter valued at about $235,000. Allspring Global Investments Holdings LLC boosted its holdings in Pathward Financial by 1,023.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company's stock valued at $5,799,000 after acquiring an additional 71,458 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Pathward Financial by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 235,005 shares of the savings and loans company's stock valued at $17,144,000 after acquiring an additional 6,305 shares during the period. SG Americas Securities LLC purchased a new position in Pathward Financial during the 1st quarter valued at about $572,000. Finally, GAMMA Investing LLC boosted its holdings in Pathward Financial by 8,971.9% during the 1st quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company's stock valued at $3,342,000 after acquiring an additional 45,308 shares during the period. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their target price on Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.

Pathward Financial Price Performance

Shares of NASDAQ CASH opened at $75.17 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.78. Pathward Financial, Inc. has a fifty-two week low of $62.79 and a fifty-two week high of $86.00. The firm has a market capitalization of $1.71 billion, a PE ratio of 9.94 and a beta of 0.64. The stock's 50-day simple moving average is $76.96 and its 200-day simple moving average is $76.70.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The savings and loans company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.57 by $0.24. The company 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 22.53% and a net margin of 22.23%.The firm's revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. As a group, equities research analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.20 annualized dividend and a yield of 0.3%. 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.

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