Jupiter Asset Management Ltd. Grows Position in Pathward Financial, Inc. (NASDAQ:CASH)

Jupiter Asset Management Ltd. increased its position in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 54.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 155,269 shares of the savings and loans company’s stock after buying an additional 54,924 shares during the period. Jupiter Asset Management Ltd. owned about 0.65% of Pathward Financial worth $11,327,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Pathward Financial during the first quarter worth approximately $35,000. Sterling Capital Management LLC increased its stake in shares of Pathward Financial by 726.8% during the fourth quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company’s stock worth $43,000 after buying an additional 516 shares during the period. USAdvisors Wealth Management LLC increased its stake in shares of Pathward Financial by 37.0% during the first quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company’s stock worth $44,000 after buying an additional 164 shares during the period. Vestcor Inc purchased a new stake in shares of Pathward Financial during the first quarter worth approximately $123,000. Finally, Bank of Montreal Can purchased a new stake in shares of Pathward Financial during the fourth quarter worth approximately $201,000. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler increased their price target on shares of Pathward Financial from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods increased their price target on shares of Pathward Financial from $86.00 to $88.00 and gave the company a “market perform” rating in a research note on Friday, July 11th.

Pathward Financial Stock Performance

Shares of Pathward Financial stock opened at $74.79 on Friday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 9.89 and a beta of 0.62. Pathward Financial, Inc. has a 52 week low of $60.42 and a 52 week high of $86.00. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $78.69 and its two-hundred day moving average is $77.18.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings results on Monday, July 28th. The savings and loans company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.57 by $0.24. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $184.80 million. Pathward Financial had a net margin of 22.23% and a return on equity of 22.16%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. Research analysts forecast that Pathward Financial, Inc. will post 7.26 EPS for the current fiscal year.

Pathward Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, June 13th. Pathward Financial’s dividend payout ratio is presently 2.65%.

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.