Prudential Financial Inc. Raises Stock Position in Pathward Financial, Inc. (NASDAQ:CASH)

Prudential Financial Inc. raised its stake in Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,250 shares of the savings and loans company's stock after purchasing an additional 4,540 shares during the period. Prudential Financial Inc. owned 0.25% of Pathward Financial worth $4,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Pathward Financial by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company's stock worth $46,206,000 after buying an additional 18,936 shares during the last quarter. Meritage Portfolio Management purchased a new position in Pathward Financial in the fourth quarter worth $435,000. Assenagon Asset Management S.A. acquired a new position in shares of Pathward Financial during the fourth quarter worth $10,865,000. RMR Wealth Builders lifted its holdings in shares of Pathward Financial by 88.3% during the 4th quarter. RMR Wealth Builders now owns 40,406 shares of the savings and loans company's stock valued at $2,973,000 after purchasing an additional 18,947 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Pathward Financial in the 4th quarter worth $3,734,999,000. 92.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Pathward Financial Stock Performance

CASH stock traded down $2.16 during trading on Friday, reaching $67.53. The company had a trading volume of 278,407 shares, compared to its average volume of 185,729. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 9.84 and a beta of 0.69. Pathward Financial, Inc. has a twelve month low of $48.15 and a twelve month high of $86.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. The firm has a 50-day simple moving average of $76.15 and a 200-day simple moving average of $75.54.

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 for the quarter, beating analysts' consensus estimates of $1.24 by $0.05. The firm 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%. The business's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. As a group, sell-side analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, March 13th. 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.