Jupiter Asset Management Ltd. Sells 17,456 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Jupiter Asset Management Ltd. lessened its holdings in Pathward Financial, Inc. (NASDAQ:CASH) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,345 shares of the savings and loans company’s stock after selling 17,456 shares during the period. Jupiter Asset Management Ltd.’s holdings in Pathward Financial were worth $7,383,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in shares of Pathward Financial during the third quarter valued at about $35,000. Smartleaf Asset Management LLC boosted 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 purchasing an additional 414 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pathward Financial during the third quarter valued at about $94,000. KBC Group NV boosted 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 purchasing an additional 445 shares in the last quarter. Finally, LMR Partners LLP acquired a new stake in shares of Pathward Financial during the third quarter valued at about $206,000. Institutional investors own 92.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Pathward Financial Price Performance

Pathward Financial stock opened at $69.93 on Friday. The stock’s 50 day moving average is $77.06 and its 200 day moving average is $74.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. The firm has a market cap of $1.67 billion, a P/E ratio of 10.19 and a beta of 0.69. Pathward Financial, Inc. has a one year low of $46.68 and a one year high of $86.00.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings data 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 company had revenue of $173.51 million for 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 firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 earnings per share. As a group, research analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. Pathward Financial’s payout ratio is currently 2.92%.

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.