Foundry Partners LLC Raises Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Foundry Partners LLC boosted its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,213 shares of the savings and loans company's stock after purchasing an additional 42,755 shares during the quarter. Foundry Partners LLC owned approximately 0.72% of Pathward Financial worth $12,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CASH. Trexquant Investment LP grew its stake in Pathward Financial by 24.0% during the fourth quarter. Trexquant Investment LP now owns 12,654 shares of the savings and loans company's stock valued at $931,000 after acquiring an additional 2,446 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Pathward Financial by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 711,538 shares of the savings and loans company's stock valued at $52,365,000 after purchasing an additional 11,654 shares during the period. Alliancebernstein L.P. grew its position in shares of Pathward Financial by 52.8% during the 4th quarter. Alliancebernstein L.P. now owns 46,412 shares of the savings and loans company's stock valued at $3,415,000 after purchasing an additional 16,032 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Pathward Financial by 14.6% in the fourth quarter. Mawer Investment Management Ltd. now owns 258,815 shares of the savings and loans company's stock worth $19,044,000 after purchasing an additional 33,000 shares during the period. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Pathward Financial in the fourth quarter worth $210,000. Hedge funds and other institutional investors own 92.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their target price on Pathward Financial from $94.00 to $91.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 22nd.

Pathward Financial Price Performance

Shares of Pathward Financial stock traded down $1.84 on Wednesday, hitting $65.72. 95,101 shares of the company traded hands, compared to its average volume of 187,233. Pathward Financial, Inc. has a 12-month low of $48.15 and a 12-month high of $86.00. The firm's 50-day simple moving average is $75.42 and its 200 day simple moving average is $75.53. The company has a market cap of $1.57 billion, a P/E ratio of 9.58 and a beta of 0.44. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. The firm had revenue of $173.51 million during 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%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 EPS. Analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were issued 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 dividend yield of 0.30%. Pathward Financial's 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.