Steward Partners Investment Advisory LLC Cuts Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Steward Partners Investment Advisory LLC lowered its position in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,644 shares of the savings and loans company’s stock after selling 1,421 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Pathward Financial were worth $268,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CASH. Point72 DIFC Ltd purchased a new position in shares of Pathward Financial during the third quarter valued at $35,000. Smartleaf Asset Management LLC increased its stake in shares of Pathward Financial by 302.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company’s stock valued at $41,000 after buying an additional 414 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Pathward Financial during the third quarter valued at $94,000. KBC Group NV increased its stake in shares of Pathward Financial by 45.8% during the fourth quarter. KBC Group NV now owns 1,417 shares of the savings and loans company’s stock valued at $104,000 after buying an additional 445 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of Pathward Financial during the third quarter valued at $206,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Pathward Financial Price Performance

Shares of CASH stock opened at $71.90 on Friday. Pathward Financial, Inc. has a 1-year low of $46.68 and a 1-year high of $86.00. The stock’s 50-day moving average is $77.03 and its 200 day moving average is $74.85. The company has a market cap of $1.71 billion, a P/E ratio of 10.48 and a beta of 0.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The company had revenue of $173.51 million for the quarter, compared to the consensus estimate of $173.27 million. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts predict 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 will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be issued a $0.05 dividend. 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 presently 2.92%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CASH. Piper Sandler dropped their price objective on Pathward Financial from $94.00 to $91.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price objective on Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

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.