Wedbush Securities Inc. Takes Position in Pathward Financial, Inc. (NASDAQ:CASH)

Key Points

• Wedbush Securities Inc. has made a new investment in Pathward Financial, Inc. worth approximately $320,000, acquiring 4,382 shares during the first quarter.
• Pathward Financial announced a quarterly dividend of $0.05 per share, which is part of an annualized yield of 0.25% and reflects a low payout ratio of 2.70%.
• Several analysts have updated their price targets for Pathward Financial, with Piper Sandler raising it from $91.00 to $94.00 and Keefe, Bruyette & Woods increasing it to $88.00, indicating positive market sentiment.

Wedbush Securities Inc. bought a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,382 shares of the savings and loans company's stock, valued at approximately $320,000.

Several other institutional investors also recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Pathward Financial in the first quarter worth $584,000. Foundry Partners LLC lifted its stake in shares of Pathward Financial by 1.4% during the first quarter. Foundry Partners LLC now owns 176,606 shares of the savings and loans company's stock worth $12,883,000 after buying an additional 2,393 shares during the period. Sigma Planning Corp lifted its stake in shares of Pathward Financial by 12.1% during the first quarter. Sigma Planning Corp now owns 10,113 shares of the savings and loans company's stock worth $738,000 after buying an additional 1,094 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Pathward Financial by 73.4% during the first quarter. Envestnet Asset Management Inc. now owns 31,314 shares of the savings and loans company's stock worth $2,284,000 after buying an additional 13,252 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Pathward Financial during the first quarter worth $235,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

Pathward Financial Price Performance

Shares of CASH stock traded up $0.07 on Monday, reaching $80.27. 185,244 shares of the company were exchanged, compared to its average volume of 166,777. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 10.83 and a beta of 0.62. The business has a 50-day moving average price of $78.88 and a 200 day moving average price of $77.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. Pathward Financial, Inc. has a 1 year low of $60.42 and a 1 year high of $86.00.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released its earnings results on Monday, July 28th. The savings and loans company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.17. Pathward Financial had a net margin of 22.69% and a return on equity of 22.50%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 earnings per share. Equities research analysts forecast 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 was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, June 13th. This represents a $0.20 annualized dividend and a yield of 0.25%. Pathward Financial's dividend payout ratio is presently 2.70%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods lifted 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.

Insiders Place Their Bets

In other Pathward Financial news, Director Kendall E. Stork sold 4,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total value of $317,320.00. Following the transaction, the director directly owned 6,153 shares in the company, valued at $488,117.49. The trade was a 39.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.23% of the stock is owned by insiders.

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.