Pathward Financial, Inc. (NASDAQ:CASH) Shares Bought by Panagora Asset Management Inc.

Panagora Asset Management Inc. raised its position in Pathward Financial, Inc. (NASDAQ:CASH) by 5.8% in the 2nd quarter, Holdings Channel reports. The fund owned 164,196 shares of the savings and loans company’s stock after acquiring an additional 8,953 shares during the period. Panagora Asset Management Inc.’s holdings in Pathward Financial were worth $9,289,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Pathward Financial in the second quarter valued at about $25,000. Gladius Capital Management LP acquired a new stake in shares of Pathward Financial in the second quarter valued at about $31,000. EntryPoint Capital LLC acquired a new stake in shares of Pathward Financial in the first quarter valued at about $59,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Pathward Financial by 10.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,843 shares of the savings and loans company’s stock valued at $256,000 after purchasing an additional 441 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Pathward Financial in the fourth quarter valued at about $262,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Stock Performance

NASDAQ:CASH opened at $68.82 on Friday. The company has a market capitalization of $1.74 billion, a P/E ratio of 10.33 and a beta of 0.68. Pathward Financial, Inc. has a twelve month low of $41.79 and a twelve month high of $69.63. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $62.38 and a two-hundred day moving average price of $55.36.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $176.73 million during the quarter, compared to the consensus estimate of $176.63 million. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.76 earnings per share. As a group, research analysts expect that Pathward Financial, Inc. will post 6.6 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. Pathward Financial’s dividend payout ratio (DPR) is presently 3.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CASH. Piper Sandler raised their target price on shares of Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a report on Thursday, July 25th.

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.