Bank of New York Mellon Corp Sells 7,802 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Bank of New York Mellon Corp cut its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 203,556 shares of the savings and loans company’s stock after selling 7,802 shares during the period. Bank of New York Mellon Corp owned 0.84% of Pathward Financial worth $14,978,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CASH. Revolve Wealth Partners LLC bought a new stake in Pathward Financial during the fourth quarter worth about $267,437,000. FMR LLC boosted its position in shares of Pathward Financial by 6.9% in the 3rd quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock worth $135,471,000 after purchasing an additional 132,067 shares in the last quarter. State Street Corp grew its stake in shares of Pathward Financial by 1.4% in the 3rd quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company’s stock worth $84,218,000 after buying an additional 17,004 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Pathward Financial by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company’s stock worth $46,206,000 after buying an additional 18,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Pathward Financial by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,413 shares of the savings and loans company’s stock valued at $21,679,000 after buying an additional 1,733 shares in the last quarter. 92.66% of the stock is owned by institutional investors.

Pathward Financial Price Performance

Shares of CASH opened at $71.38 on Thursday. Pathward Financial, Inc. has a twelve month low of $46.68 and a twelve month high of $86.00. The company has a market capitalization of $1.70 billion, a P/E ratio of 10.41 and a beta of 0.69. The firm has a 50 day moving average of $77.12 and a 200 day moving average of $74.85. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $173.51 million during the quarter, compared to analyst estimates of $173.27 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. As a group, equities research analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Thursday, March 13th. Pathward Financial’s dividend payout ratio is currently 2.92%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler dropped their price target on shares of Pathward Financial from $94.00 to $91.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd.

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.