Charles Schwab Investment Management Inc. Has $23.04 Million Stock Holdings in Pathward Financial, Inc. $CASH

Charles Schwab Investment Management Inc. lessened its stake in Pathward Financial, Inc. (NASDAQ:CASH) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 315,803 shares of the savings and loans company’s stock after selling 15,652 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.32% of Pathward Financial worth $23,038,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Pathward Financial in the 1st quarter valued at approximately $35,000. Sterling Capital Management LLC increased its stake in Pathward Financial by 726.8% in the 4th quarter. Sterling Capital Management LLC now owns 587 shares of the savings and loans company’s stock valued at $43,000 after buying an additional 516 shares during the period. USAdvisors Wealth Management LLC increased its stake in Pathward Financial by 37.0% in the 1st quarter. USAdvisors Wealth Management LLC now owns 607 shares of the savings and loans company’s stock valued at $44,000 after buying an additional 164 shares during the period. Vestcor Inc acquired a new position in Pathward Financial in the 1st quarter valued at approximately $123,000. Finally, Bank of Montreal Can acquired a new position in Pathward Financial in the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

Pathward Financial Stock Performance

Shares of CASH opened at $75.16 on Friday. The company’s fifty day moving average is $78.02 and its 200-day moving average is $76.81. Pathward Financial, Inc. has a 12 month low of $62.79 and a 12 month high of $86.00. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 9.94 and a beta of 0.62. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.04.

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

Pathward Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. Pathward Financial’s payout ratio is presently 2.65%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target on shares of Pathward Financial from $86.00 to $88.00 and gave the stock a “market perform” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

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.