Royce & Associates LP Raises Position in Pathward Financial, Inc. (NASDAQ:CASH)

Royce & Associates LP grew its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,614 shares of the savings and loans company's stock after buying an additional 4,000 shares during the period. Royce & Associates LP owned 0.07% of Pathward Financial worth $1,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Pathward Financial by 384.6% in the third quarter. Victory Capital Management Inc. now owns 23,572 shares of the savings and loans company's stock worth $1,556,000 after purchasing an additional 18,708 shares during the period. Quest Partners LLC grew its stake in shares of Pathward Financial by 82.6% in the third quarter. Quest Partners LLC now owns 11,597 shares of the savings and loans company's stock worth $766,000 after acquiring an additional 5,246 shares during the last quarter. LMR Partners LLP bought a new position in shares of Pathward Financial during the third quarter valued at $206,000. Intech Investment Management LLC raised its position in shares of Pathward Financial by 5.3% in the 3rd quarter. Intech Investment Management LLC now owns 11,453 shares of the savings and loans company's stock worth $756,000 after purchasing an additional 579 shares during the last quarter. Finally, Foundry Partners LLC increased its stake in Pathward Financial by 59.3% during the 3rd quarter. Foundry Partners LLC now owns 131,458 shares of the savings and loans company's stock valued at $8,678,000 after purchasing an additional 48,917 shares in the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

CASH has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of Pathward Financial from $94.00 to $91.00 and set an "overweight" rating on the stock in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their target price on Pathward Financial from $76.00 to $90.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th.

Pathward Financial Stock Performance

Shares of NASDAQ CASH traded down $0.12 during trading on Tuesday, reaching $75.19. 184,685 shares of the company traded hands, compared to its average volume of 171,820. The firm has a 50 day simple moving average of $76.98 and a 200-day simple moving average of $75.20. Pathward Financial, Inc. has a 52-week low of $48.15 and a 52-week high of $86.00. The stock has a market capitalization of $1.79 billion, a PE ratio of 10.96 and a beta of 0.69. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last posted its earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. The business had revenue of $173.51 million during the quarter, compared to the consensus estimate of $173.27 million. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The firm's revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. Equities research 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 will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.27%. Pathward Financial's payout ratio is 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.