Pathward Financial, Inc. (NASDAQ:CASH) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 17.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,954 shares of the savings and loans company’s stock after selling 1,480 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Pathward Financial were worth $507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Revolve Wealth Partners LLC acquired a new stake in shares of Pathward Financial during the 4th quarter worth about $267,437,000. Putney Financial Group LLC acquired a new position in Pathward Financial in the 4th quarter valued at about $32,223,000. Nuveen Asset Management LLC grew its position in Pathward Financial by 4.3% in the 4th quarter. Nuveen Asset Management LLC now owns 383,036 shares of the savings and loans company’s stock valued at $28,184,000 after acquiring an additional 15,740 shares in the last quarter. Mawer Investment Management Ltd. grew its position in Pathward Financial by 11.1% in the 1st quarter. Mawer Investment Management Ltd. now owns 287,644 shares of the savings and loans company’s stock valued at $20,984,000 after acquiring an additional 28,829 shares in the last quarter. Finally, Northern Trust Corp grew its position in Pathward Financial by 1.1% in the 4th quarter. Northern Trust Corp now owns 268,016 shares of the savings and loans company’s stock valued at $19,721,000 after acquiring an additional 2,854 shares in the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Pathward Financial Stock Down 0.4%

CASH stock opened at $76.64 on Friday. The company’s 50 day moving average price is $78.19 and its 200 day moving average price is $76.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 0.78. Pathward Financial, Inc. has a fifty-two week low of $62.79 and a fifty-two week high of $86.00. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 10.14 and a beta of 0.62.

Pathward Financial (NASDAQ:CASH) last released its earnings results on Monday, July 28th. The savings and loans company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.24. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The firm had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. During the same period in the prior year, the firm earned $1.66 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Pathward Financial’s payout ratio is presently 2.65%.

Analysts Set New Price Targets

CASH has been the subject of several research reports. Piper Sandler lifted their target price 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 lifted 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 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.