50,761,060 Shares in Pathward Financial, Inc. (NASDAQ:CASH) Purchased by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. bought a new position in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,761,060 shares of the savings and loans company's stock, valued at approximately $3,734,999,000. Pathward Financial comprises about 84.9% of Pinnacle Wealth Planning Services Inc.'s investment portfolio, making the stock its largest position. Pinnacle Wealth Planning Services Inc. owned approximately 210.46% of Pathward Financial as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in shares of Pathward Financial by 6.7% in the third quarter. New York State Teachers Retirement System now owns 29,475 shares of the savings and loans company's stock worth $1,946,000 after purchasing an additional 1,855 shares in the last quarter. US Bancorp DE lifted its holdings in Pathward Financial by 39.5% in the third quarter. US Bancorp DE now owns 8,896 shares of the savings and loans company's stock worth $587,000 after purchasing an additional 2,518 shares during the period. Los Angeles Capital Management LLC bought a new position in Pathward Financial in the 3rd quarter valued at about $476,000. Entropy Technologies LP acquired a new position in Pathward Financial during the 3rd quarter valued at about $274,000. Finally, Victory Capital Management Inc. raised its position in shares of Pathward Financial by 384.6% during the 3rd quarter. Victory Capital Management Inc. now owns 23,572 shares of the savings and loans company's stock worth $1,556,000 after buying an additional 18,708 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company's stock.

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Analysts Set New Price Targets

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

Pathward Financial Price Performance

NASDAQ:CASH traded down $1.08 during mid-day trading on Monday, reaching $71.15. 260,817 shares of the stock were exchanged, compared to its average volume of 190,049. 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 business has a fifty day moving average price of $77.29 and a 200 day moving average price of $74.80. Pathward Financial, Inc. has a 1-year low of $46.68 and a 1-year high of $86.00. The firm has a market capitalization of $1.70 billion, a PE ratio of 10.37 and a beta of 0.69.

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

Pathward Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be issued a $0.05 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. Pathward Financial's dividend payout ratio is currently 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.