MetLife Investment Management LLC Decreases Holdings in Pathward Financial, Inc. $CASH

MetLife Investment Management LLC cut its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,010 shares of the savings and loans company’s stock after selling 1,207 shares during the quarter. MetLife Investment Management LLC owned 0.06% of Pathward Financial worth $1,022,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Concurrent Investment Advisors LLC purchased a new position in shares of Pathward Financial in the first quarter worth $235,000. Allspring Global Investments Holdings LLC increased its stake in shares of Pathward Financial by 1,023.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 78,437 shares of the savings and loans company’s stock worth $5,799,000 after buying an additional 71,458 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Pathward Financial by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 235,005 shares of the savings and loans company’s stock worth $17,144,000 after buying an additional 6,305 shares during the period. SG Americas Securities LLC purchased a new position in shares of Pathward Financial in the first quarter worth $572,000. Finally, GAMMA Investing LLC increased its stake in shares of Pathward Financial by 8,971.9% in the first quarter. GAMMA Investing LLC now owns 45,813 shares of the savings and loans company’s stock worth $3,342,000 after buying an additional 45,308 shares during the period. 92.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Pathward Financial from $86.00 to $88.00 and gave the stock a “market perform” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.00.

Pathward Financial Stock Down 2.5%

Shares of Pathward Financial stock opened at $76.40 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $78.77 and its two-hundred day simple moving average is $76.70. The company has a market cap of $1.74 billion, a P/E ratio of 10.11 and a beta of 0.64. Pathward Financial, Inc. has a 12-month low of $62.79 and a 12-month high of $86.00.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data on Monday, July 28th. The savings and loans company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.24. The business had revenue of $195.80 million for the quarter, compared to the consensus estimate of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.28%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 EPS. Research analysts anticipate that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 10th. Pathward Financial’s payout ratio is 2.65%.

About Pathward Financial

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.