Pathward Financial, Inc. $CASH Stock Holdings Lowered by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Pathward Financial by 1.4%, selling 24,818 shares, and now holds approximately 7.36% of the company valued at around $127.96 million.
• The company reported an EPS of $1.81 for the last quarter, which exceeded analysts' expectations and marked a 10.8% increase in revenue compared to the previous year.
• Pathward Financial has announced a quarterly dividend of $0.05 per share, with a yield of 0.3% and a low dividend payout ratio of 2.65%.

Vanguard Group Inc. reduced its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,754,129 shares of the savings and loans company's stock after selling 24,818 shares during the period. Vanguard Group Inc. owned about 7.36% of Pathward Financial worth $127,964,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Pathward Financial during the 1st quarter worth $35,000. Sterling Capital Management LLC boosted its holdings in shares of Pathward Financial by 726.8% in the 4th quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company's stock valued at $43,000 after buying an additional 516 shares during the period. USAdvisors Wealth Management LLC boosted its holdings in shares of Pathward Financial by 37.0% in the 1st quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock valued at $44,000 after buying an additional 164 shares during the period. Vestcor Inc acquired a new position in shares of Pathward Financial in the 1st quarter valued at about $123,000. Finally, Bank of Montreal Can acquired a new position in shares of Pathward Financial in the 4th quarter valued at about $201,000. 92.66% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Stock Performance

NASDAQ:CASH traded up $0.34 during mid-day trading on Wednesday, hitting $79.62. The stock had a trading volume of 8,600 shares, compared to its average volume of 196,050. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 10.53 and a beta of 0.62. The company has a 50 day simple moving average of $78.31 and a 200-day simple moving average of $76.75. Pathward Financial, Inc. has a 52 week low of $62.79 and a 52 week high of $86.00. 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 released its quarterly earnings results on Monday, July 28th. The savings and loans company reported $1.81 EPS for the quarter, topping 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 company had revenue of $195.80 million for the quarter, compared to the consensus estimate of $184.80 million. During the same period in the previous year, the firm earned $1.66 EPS. Pathward Financial's revenue was up 10.8% on a year-over-year basis. On average, research analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend 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 lifted their price target 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. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.