KLP Kapitalforvaltning AS Sells 800 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

KLP Kapitalforvaltning AS lowered its position in Pathward Financial, Inc. (NASDAQ:CASH) by 9.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,800 shares of the savings and loans company’s stock after selling 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Pathward Financial were worth $569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CASH. Revolve Wealth Partners LLC purchased a new stake in Pathward Financial during the 4th quarter valued at $267,437,000. FMR LLC raised its holdings in Pathward Financial by 7.4% in 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 during the period. Geode Capital Management LLC raised its holdings in Pathward Financial by 1.7% in 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 during the period. JPMorgan Chase & Co. raised its holdings in Pathward Financial by 52.2% in the 4th quarter. JPMorgan Chase & Co. now owns 569,238 shares of the savings and loans company’s stock worth $41,885,000 after purchasing an additional 195,331 shares during the period. Finally, Putney Financial Group LLC bought a new stake in Pathward Financial during the fourth quarter valued at about $32,223,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Stock Performance

Shares of CASH stock opened at $76.75 on Thursday. The business’s fifty day simple moving average is $78.78 and its 200-day simple moving average is $77.17. The company has a market cap of $1.83 billion, a PE ratio of 10.15 and a beta of 0.62. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. Pathward Financial, Inc. has a 12-month low of $60.42 and a 12-month high of $86.00.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings data on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.24. The firm had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.66 earnings per share. Analysts expect 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, July 1st. Shareholders of record on Friday, June 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Friday, June 13th. Pathward Financial’s payout ratio is 2.70%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CASH shares. Piper Sandler raised their price objective on Pathward Financial from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods boosted their target price on Pathward Financial from $86.00 to $88.00 and gave the company a “market perform” rating in a research report on Friday, July 11th.

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.