Raymond James Financial Inc. Makes New Investment in Pathward Financial, Inc. (NASDAQ:CASH)

Raymond James Financial Inc. acquired a new stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,789 shares of the savings and loans company's stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Revolve Wealth Partners LLC purchased a new stake in Pathward Financial during the 4th quarter worth approximately $267,437,000. State Street Corp increased its holdings in shares of Pathward Financial by 1.4% in the 3rd quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company's stock valued at $84,218,000 after acquiring an additional 17,004 shares during the last quarter. Geode Capital Management LLC grew its position in Pathward Financial by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company's stock worth $46,206,000 after purchasing an additional 18,936 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Pathward Financial by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,455 shares of the savings and loans company's stock worth $24,388,000 after purchasing an additional 3,042 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Pathward Financial during the fourth quarter worth about $10,865,000. Hedge funds and other institutional investors own 92.66% of the company's stock.

Pathward Financial Price Performance

CASH traded down $0.08 during trading on Wednesday, reaching $70.24. 7,191 shares of the stock were exchanged, compared to its average volume of 189,650. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. The business's 50 day moving average price is $74.08 and its two-hundred day moving average price is $75.63. Pathward Financial, Inc. has a 1 year low of $48.15 and a 1 year high of $86.00. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 10.31 and a beta of 0.44.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.05. The firm had revenue of $173.51 million for the quarter, compared to analysts' expectations of $173.27 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. Pathward Financial's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. As a group, equities research analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Thursday, March 13th. Pathward Financial's dividend payout ratio is presently 2.92%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reduced their price target on Pathward Financial from $94.00 to $91.00 and set an "overweight" rating for the company in a report on Wednesday, January 22nd.

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.