Invesco Ltd. Sells 85,576 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Invesco Ltd. decreased its holdings in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,719 shares of the savings and loans company's stock after selling 85,576 shares during the period. Invesco Ltd. owned about 0.97% of Pathward Financial worth $17,271,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Smartleaf Asset Management LLC increased its holdings in Pathward Financial by 302.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company's stock worth $41,000 after buying an additional 414 shares in the last quarter. KBC Group NV boosted its holdings in shares of Pathward Financial by 45.8% during the 4th quarter. KBC Group NV now owns 1,417 shares of the savings and loans company's stock valued at $104,000 after acquiring an additional 445 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Pathward Financial during the 4th quarter valued at about $201,000. Pictet Asset Management Holding SA bought a new stake in shares of Pathward Financial in the fourth quarter worth approximately $210,000. Finally, Virtu Financial LLC purchased a new position in shares of Pathward Financial during the fourth quarter valued at approximately $277,000. Hedge funds and other institutional investors own 92.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday.

Pathward Financial Stock Performance

CASH stock traded down $0.52 during trading on Friday, reaching $78.80. The stock had a trading volume of 79,030 shares, compared to its average volume of 194,374. Pathward Financial, Inc. has a 52 week low of $50.00 and a 52 week high of $86.00. The stock's 50 day moving average is $73.19 and its two-hundred day moving average is $75.94. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.88 billion, a PE ratio of 11.46 and a beta of 0.44.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $3.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.40. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The firm had revenue of $262.90 million during the quarter, compared to the consensus estimate of $256.30 million. During the same quarter in the previous year, the firm posted $2.56 EPS. As a group, equities analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date was Thursday, March 13th. Pathward Financial's dividend payout ratio is 2.92%.

About Pathward Financial

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.