Mawer Investment Management Ltd. Acquires 33,000 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Mawer Investment Management Ltd. lifted its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 14.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 258,815 shares of the savings and loans company’s stock after acquiring an additional 33,000 shares during the period. Mawer Investment Management Ltd.’s holdings in Pathward Financial were worth $19,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CASH. Point72 DIFC Ltd acquired a new position in Pathward Financial during the third quarter worth about $35,000. Smartleaf Asset Management LLC grew its holdings in shares of Pathward Financial by 302.2% during the 4th 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Pathward Financial during the 3rd quarter worth approximately $94,000. KBC Group NV increased its position in 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 worth $104,000 after purchasing an additional 445 shares in the last quarter. Finally, Pictet Asset Management Holding SA bought a new position in Pathward Financial in the 4th quarter valued at approximately $210,000. 92.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CASH. Piper Sandler lowered their price target on shares of 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 target price on Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Pathward Financial Stock Down 3.1 %

Shares of NASDAQ CASH opened at $72.72 on Friday. The company has a 50 day simple moving average of $76.80 and a 200 day simple moving average of $75.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.77 and a quick ratio of 0.76. Pathward Financial, Inc. has a 1 year low of $48.15 and a 1 year high of $86.00. The firm has a market cap of $1.73 billion, a PE ratio of 10.60 and a beta of 0.69.

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

Pathward Financial Announces Dividend

The business 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 dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.28%. The ex-dividend date is Thursday, March 13th. Pathward Financial’s payout ratio is presently 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.