JPMorgan Chase & Co. Acquires 195,331 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

JPMorgan Chase & Co. increased its stake in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 52.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 569,238 shares of the savings and loans company's stock after purchasing an additional 195,331 shares during the period. JPMorgan Chase & Co. owned 2.36% of Pathward Financial worth $41,885,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CASH. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Pathward Financial during the 4th quarter valued at $3,734,999,000. Revolve Wealth Partners LLC bought a new stake in Pathward Financial during the fourth quarter valued at $267,437,000. Assenagon Asset Management S.A. bought a new stake in Pathward Financial during the fourth quarter valued at $10,865,000. American Century Companies Inc. grew its position in Pathward Financial by 10.8% during the fourth quarter. American Century Companies Inc. now owns 643,150 shares of the savings and loans company's stock worth $47,323,000 after buying an additional 62,931 shares in the last quarter. Finally, Barclays PLC increased its stake in Pathward Financial by 83.1% in the 3rd quarter. Barclays PLC now owns 56,327 shares of the savings and loans company's stock worth $3,718,000 after acquiring an additional 25,570 shares during the last quarter. Institutional investors own 92.66% of the company's stock.

Pathward Financial Price Performance

Shares of NASDAQ:CASH traded up $0.59 during trading on Friday, reaching $67.79. The company had a trading volume of 218,407 shares, compared to its average volume of 189,768. The company has a fifty day moving average of $74.55 and a two-hundred day moving average of $75.56. 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 stock has a market capitalization of $1.62 billion, a P/E ratio of 9.88 and a beta of 0.44. Pathward Financial, Inc. has a 12 month low of $48.15 and a 12 month high of $86.00.

Pathward Financial (NASDAQ:CASH - Get Free Report) last released 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. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The business had revenue of $173.51 million for the quarter, compared to analysts' expectations of $173.27 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The firm's revenue was up 6.6% on a year-over-year basis. Equities research analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. Pathward Financial's payout ratio is 2.92%.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price target on Pathward Financial from $94.00 to $91.00 and set an "overweight" rating for the company in a research 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.