Raymond James Financial Inc. Makes New Investment in Pathward Financial, Inc. (NASDAQ:CASH)

Raymond James Financial Inc. bought a new position in shares of Pathward Financial, Inc. (NASDAQ:CASH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,789 shares of the savings and loans company’s stock, valued at approximately $279,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HighTower Advisors LLC raised its position in Pathward Financial by 7.0% in the third quarter. HighTower Advisors LLC now owns 6,032 shares of the savings and loans company’s stock worth $397,000 after acquiring an additional 393 shares in the last quarter. State Street Corp boosted its position in shares of Pathward Financial by 1.4% in the third quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company’s stock worth $84,218,000 after acquiring an additional 17,004 shares during the last quarter. Jane Street Group LLC raised its position in shares of Pathward Financial by 62.2% in the 3rd quarter. Jane Street Group LLC now owns 48,713 shares of the savings and loans company’s stock worth $3,216,000 after buying an additional 18,675 shares during the period. Orion Portfolio Solutions LLC increased its position in Pathward Financial by 27.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,308 shares of the savings and loans company’s stock worth $416,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Barclays PLC increased its holdings in Pathward Financial by 83.1% in the 3rd quarter. Barclays PLC now owns 56,327 shares of the savings and loans company’s stock valued at $3,718,000 after purchasing an additional 25,570 shares in the last quarter. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Pathward Financial Stock Down 4.5 %

CASH stock opened at $67.20 on Friday. The firm has a fifty day moving average price of $74.79 and a two-hundred day moving average price of $75.54. 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 $1.60 billion, a price-to-earnings ratio of 9.80 and a beta of 0.44.

Pathward Financial (NASDAQ:CASH) last issued 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 firm had revenue of $173.51 million during the quarter, compared to the consensus estimate of $173.27 million. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 EPS. Research analysts predict that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, March 13th. Pathward Financial’s dividend payout ratio (DPR) is 2.92%.

Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on Pathward Financial from $94.00 to $91.00 and set an “overweight” rating on the stock 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.