Wellington Management Group LLP Takes $13 Million Position in Pathward Financial, Inc. $CASH

Key Points

• Wellington Management Group LLP has acquired a new position in Pathward Financial, purchasing 178,193 shares valued at approximately $13 million, representing 0.75% ownership of the company.
• Pathward Financial's stock recently opened at $80.05 and has shown a yearly range between $62.79 and $86.00, reflecting its significant market fluctuations.
• The company reported a quarterly earnings per share (EPS) of $1.81, exceeding estimates, with revenue up 10.8% year-over-year, indicating a strong financial performance.

Wellington Management Group LLP purchased a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 178,193 shares of the savings and loans company's stock, valued at approximately $12,999,000. Wellington Management Group LLP owned about 0.75% of Pathward Financial as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Pathward Financial in the 1st quarter valued at about $35,000. USAdvisors Wealth Management LLC raised its stake in 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 purchasing an additional 164 shares during the last quarter. Vestcor Inc acquired a new position in Pathward Financial in the 1st quarter valued at about $123,000. AXA S.A. acquired a new position in Pathward Financial in the 4th quarter valued at about $203,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Pathward Financial in the 1st quarter valued at about $219,000. Institutional investors and hedge funds own 92.66% of the company's stock.

Pathward Financial Trading Down 0.8%

Shares of NASDAQ CASH traded down $0.65 on Friday, reaching $79.47. 200,050 shares of the company traded hands, compared to its average volume of 168,936. Pathward Financial, Inc. has a fifty-two week low of $62.79 and a fifty-two week high of $86.00. The company has a 50 day moving average of $78.73 and a 200 day moving average of $76.75. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $1.90 billion, a PE ratio of 10.51 and a beta of 0.62.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $195.80 million during the quarter, compared to the consensus estimate of $184.80 million. During the same quarter in the prior year, the company posted $1.66 EPS. The company's quarterly revenue was up 10.8% compared to the same quarter last year. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Pathward Financial's dividend payout ratio is currently 2.65%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Pathward Financial from $86.00 to $88.00 and gave the company a "market perform" rating in a research note 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $91.00.

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.