Maryland State Retirement & Pension System Sells 374 Shares of Pathward Financial, Inc. (NASDAQ:CASH)

Maryland State Retirement & Pension System decreased its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,811 shares of the savings and loans company’s stock after selling 374 shares during the period. Maryland State Retirement & Pension System’s holdings in Pathward Financial were worth $498,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CASH. Opal Wealth Advisors LLC acquired a new position in shares of Pathward Financial during the 2nd quarter valued at $25,000. Gladius Capital Management LP acquired a new position in Pathward Financial during the 2nd quarter worth approximately $31,000. EntryPoint Capital LLC bought a new position in Pathward Financial in the first quarter worth approximately $59,000. Steward Partners Investment Advisory LLC grew its stake in 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 acquiring an additional 441 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Pathward Financial during the fourth quarter worth approximately $262,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Pathward Financial Trading Down 0.8 %

Shares of Pathward Financial stock opened at $68.24 on Wednesday. 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 stock has a fifty day simple moving average of $62.90 and a 200 day simple moving average of $55.66. Pathward Financial, Inc. has a 12-month low of $41.79 and a 12-month high of $69.63. The company has a market capitalization of $1.72 billion, a P/E ratio of 10.25 and a beta of 0.68.

Pathward Financial (NASDAQ:CASH) last posted its earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. The firm had revenue of $176.73 million during the quarter, compared to analyst estimates of $176.63 million. Pathward Financial had a net margin of 22.10% and a return on equity of 23.59%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. On average, sell-side analysts anticipate that Pathward Financial, Inc. will post 6.87 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

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

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.