KLP Kapitalforvaltning AS Acquires Shares of 8,600 Pathward Financial, Inc. (NASDAQ:CASH)

KLP Kapitalforvaltning AS bought a new stake in shares of Pathward Financial, Inc. (NASDAQ:CASH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,600 shares of the savings and loans company’s stock, valued at approximately $633,000.

Several other institutional investors have also added to or reduced their stakes in CASH. HighTower Advisors LLC raised its stake in shares of Pathward Financial by 7.0% in the third quarter. HighTower Advisors LLC now owns 6,032 shares of the savings and loans company’s stock worth $397,000 after purchasing an additional 393 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Pathward Financial by 302.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company’s stock worth $41,000 after purchasing an additional 414 shares during the period. KBC Group NV lifted its position in shares of Pathward Financial by 45.8% during the 4th 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 in the last quarter. Point72 DIFC Ltd purchased a new position in Pathward Financial during the third quarter valued at approximately $35,000. Finally, Diversified Trust Co lifted its stake in shares of Pathward Financial by 9.7% during the 4th quarter. Diversified Trust Co now owns 8,931 shares of the savings and loans company’s stock valued at $657,000 after buying an additional 787 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors.

Pathward Financial Trading Up 2.0 %

Shares of Pathward Financial stock opened at $75.43 on Thursday. The firm’s 50 day simple moving average is $76.58 and its two-hundred day simple moving average is $75.54. Pathward Financial, Inc. has a 12-month low of $48.15 and a 12-month high of $86.00. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 11.00 and a beta of 0.69.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The company had revenue of $173.51 million during the quarter, compared to analysts’ expectations of $173.27 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. Pathward Financial’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned $1.06 earnings per share. Analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Thursday, March 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. Pathward Financial’s payout ratio is 2.92%.

Wall Street Analysts Forecast Growth

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

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.