Invesco Ltd. Cuts Stock Holdings in Pathward Financial, Inc. (NASDAQ:CASH)

Invesco Ltd. lessened its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 26.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,719 shares of the savings and loans company’s stock after selling 85,576 shares during the quarter. Invesco Ltd.’s holdings in Pathward Financial were worth $17,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CASH. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Pathward Financial in the 4th quarter valued at approximately $3,734,999,000. Revolve Wealth Partners LLC acquired a new stake in Pathward Financial in the fourth quarter valued at $267,437,000. FMR LLC boosted its position in shares of Pathward Financial by 7.4% during the 4th quarter. FMR LLC now owns 2,203,603 shares of the savings and loans company’s stock worth $162,141,000 after purchasing an additional 151,316 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Pathward Financial by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 711,538 shares of the savings and loans company’s stock worth $52,365,000 after purchasing an additional 11,654 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Pathward Financial by 10.8% during the 4th quarter. American Century Companies Inc. now owns 643,150 shares of the savings and loans company’s stock worth $47,323,000 after purchasing an additional 62,931 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Stock Performance

Shares of CASH stock opened at $70.33 on Monday. 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 stock has a market cap of $1.68 billion, a PE ratio of 10.25 and a beta of 0.44. Pathward Financial, Inc. has a 1 year low of $50.00 and a 1 year high of $86.00. The stock has a fifty day moving average price of $73.52 and a 200 day moving average price of $75.82.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results 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. The business had revenue of $173.51 million during the quarter, compared to the consensus estimate of $173.27 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 EPS. Sell-side analysts forecast that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. Pathward Financial’s dividend payout ratio is presently 2.92%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their target price 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 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.