Bank of New York Mellon Corp Decreases Position in Pathward Financial, Inc. (NASDAQ:CASH)

Bank of New York Mellon Corp trimmed its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,556 shares of the savings and loans company's stock after selling 7,802 shares during the quarter. Bank of New York Mellon Corp owned 0.84% of Pathward Financial worth $14,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC acquired a new position in shares of Pathward Financial in the 4th quarter worth approximately $267,437,000. Assenagon Asset Management S.A. acquired a new position in Pathward Financial in the 4th quarter worth $10,865,000. FMR LLC boosted its stake in Pathward Financial by 6.9% in the 3rd quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company's stock worth $135,471,000 after purchasing an additional 132,067 shares during the period. Foundry Partners LLC boosted its stake in Pathward Financial by 59.3% in the 3rd quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company's stock worth $8,678,000 after purchasing an additional 48,917 shares during the period. Finally, Algert Global LLC boosted its stake in shares of Pathward Financial by 41.2% during the 3rd quarter. Algert Global LLC now owns 113,484 shares of the savings and loans company's stock worth $7,491,000 after buying an additional 33,108 shares during the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CASH shares. Piper Sandler cut their target price on shares of Pathward Financial from $94.00 to $91.00 and set an "overweight" rating for the company in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their target price on shares of Pathward Financial from $76.00 to $90.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th.

Remove Ads

Pathward Financial Price Performance

NASDAQ:CASH traded up $1.46 during mid-day trading on Friday, reaching $71.40. The stock had a trading volume of 79,562 shares, compared to its average volume of 188,290. Pathward Financial, Inc. has a 12 month low of $46.68 and a 12 month high of $86.00. 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 stock has a market capitalization of $1.70 billion, a PE ratio of 10.41 and a beta of 0.69. The stock has a 50-day simple moving average of $77.06 and a two-hundred day simple moving average of $74.81.

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

Pathward Financial Dividend Announcement

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

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.