Meritage Portfolio Management Takes $435,000 Position in Pathward Financial, Inc. (NASDAQ:CASH)

Meritage Portfolio Management acquired a new stake in Pathward Financial, Inc. (NASDAQ:CASH) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 5,907 shares of the savings and loans company’s stock, valued at approximately $435,000.

Other hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in shares of Pathward Financial in the 3rd quarter valued at $29,000. Point72 DIFC Ltd acquired a new position in shares of Pathward Financial in the 3rd quarter valued at $35,000. USA Financial Formulas acquired a new position in shares of Pathward Financial in the 3rd quarter valued at $56,000. nVerses Capital LLC acquired a new position in shares of Pathward Financial in the 3rd quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pathward Financial in the 3rd quarter valued at $94,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Trading Up 0.2 %

Shares of Pathward Financial stock opened at $81.54 on Friday. The stock has a market capitalization of $1.97 billion, a P/E ratio of 11.89 and a beta of 0.73. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.04. The company has a 50-day simple moving average of $78.14 and a 200 day simple moving average of $72.62. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00.

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

Pathward Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date was Tuesday, December 10th. Pathward Financial’s payout ratio is presently 2.92%.

Analysts Set New Price Targets

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

Pathward Financial Company 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.