Pictet Asset Management Holding SA Acquires New Shares in Pathward Financial, Inc. (NASDAQ:CASH)

Pictet Asset Management Holding SA bought a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,858 shares of the savings and loans company’s stock, valued at approximately $210,000.

A number of other institutional investors have also added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in Pathward Financial by 7.0% during the 3rd quarter. HighTower Advisors LLC now owns 6,032 shares of the savings and loans company’s stock valued at $397,000 after acquiring an additional 393 shares in the last quarter. State Street Corp boosted its position in Pathward Financial by 1.4% during the third quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company’s stock valued at $84,218,000 after purchasing an additional 17,004 shares in the last quarter. Jane Street Group LLC grew its stake in Pathward Financial by 62.2% in the third quarter. Jane Street Group LLC now owns 48,713 shares of the savings and loans company’s stock valued at $3,216,000 after purchasing an additional 18,675 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Pathward Financial by 27.2% in the third quarter. Orion Portfolio Solutions LLC now owns 6,308 shares of the savings and loans company’s stock worth $416,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Pathward Financial by 83.1% during the third quarter. Barclays PLC now owns 56,327 shares of the savings and loans company’s stock valued at $3,718,000 after buying an additional 25,570 shares during the last quarter. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price objective on shares of 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 Up 0.9 %

Shares of CASH stock opened at $67.79 on Friday. The stock’s fifty day moving average price is $74.55 and its 200 day moving average price is $75.56. Pathward Financial, Inc. has a 1-year low of $48.15 and a 1-year high of $86.00. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 9.88 and a beta of 0.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76.

Pathward Financial (NASDAQ:CASH) 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, beating the consensus estimate of $1.24 by $0.05. The firm had revenue of $173.51 million for 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 company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 earnings per share. On average, research analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. Pathward Financial’s payout ratio is currently 2.92%.

Pathward Financial 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.