Vident Advisory LLC Raises Stock Position in Pathward Financial, Inc. $CASH

Key Points

• Vident Advisory LLC has increased its stake in Pathward Financial, Inc. by 17.6%, owning approximately 42,357 shares worth about $3.09 million.
• The company reported a quarterly earnings of $1.81 per share, exceeding analysts' expectations, with revenue increasing by 10.8% year-over-year to $195.80 million.
• Pathward Financial announced a quarterly dividend of $0.05 per share, with an annualized yield of 0.3% and a payout ratio of 2.65%.

Vident Advisory LLC grew its holdings in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 17.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,357 shares of the savings and loans company's stock after acquiring an additional 6,354 shares during the period. Vident Advisory LLC owned 0.18% of Pathward Financial worth $3,090,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CASH. Opal Wealth Advisors LLC bought a new stake in shares of Pathward Financial during the 1st quarter valued at $35,000. USAdvisors Wealth Management LLC raised its position in shares of Pathward Financial by 37.0% during the 1st quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company's stock valued at $44,000 after purchasing an additional 164 shares during the period. Vestcor Inc bought a new stake in shares of Pathward Financial during the 1st quarter valued at $123,000. AXA S.A. bought a new stake in shares of Pathward Financial during the 4th quarter valued at $203,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Pathward Financial during the 1st quarter valued at $219,000. 92.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Pathward Financial Price Performance

CASH traded up $0.69 during trading on Thursday, hitting $78.38. 114,362 shares of the company traded hands, compared to its average volume of 194,832. The company has a market cap of $1.87 billion, a PE ratio of 10.37 and a beta of 0.64. The stock's 50-day simple moving average is $78.86 and its two-hundred day simple moving average is $76.75. Pathward Financial, Inc. has a 1 year low of $62.79 and a 1 year 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 posted 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 net margin of 22.23% and a return on equity of 22.16%. The company had revenue of $195.80 million during the quarter, compared to analysts' expectations of $184.80 million. During the same period last year, the company posted $1.66 earnings per share. Pathward Financial's quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid 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 of this dividend is Wednesday, September 10th. Pathward Financial's dividend payout ratio (DPR) is presently 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.