Pathward Financial, Inc. $CASH Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in Pathward Financial, Inc. (NASDAQ:CASH) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,613 shares of the savings and loans company’s stock after selling 763 shares during the period. Corebridge Financial Inc.’s holdings in Pathward Financial were worth $920,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CASH. Revolve Wealth Partners LLC acquired a new stake in shares of Pathward Financial in the 4th quarter worth approximately $267,437,000. Putney Financial Group LLC acquired a new stake in shares of Pathward Financial in the 4th quarter worth approximately $32,223,000. Nuveen LLC acquired a new stake in shares of Pathward Financial in the 1st quarter worth approximately $22,795,000. Wellington Management Group LLP acquired a new stake in shares of Pathward Financial in the 1st quarter worth approximately $12,999,000. Finally, Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Pathward Financial in the 1st quarter worth approximately $9,679,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Analyst Ratings Changes

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

Pathward Financial Price Performance

Shares of NASDAQ:CASH opened at $76.40 on Friday. The business’s fifty day moving average price is $78.77 and its two-hundred day moving average price is $76.70. The stock has a market cap of $1.74 billion, a PE ratio of 10.11 and a beta of 0.64. 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 one year low of $62.79 and a one year high of $86.00.

Pathward Financial (NASDAQ:CASH) last announced its earnings results on Monday, July 28th. The savings and loans company reported $1.81 EPS 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 analysts’ expectations of $184.80 million. Pathward Financial had a return on equity of 22.28% and a net margin of 22.23%.Pathward Financial’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 EPS. On average, analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid 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 of this dividend is Wednesday, September 10th. Pathward Financial’s dividend payout ratio is currently 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.