Meritage Portfolio Management Makes New $435,000 Investment in Pathward Financial, Inc. (NASDAQ:CASH)

Meritage Portfolio Management bought a new position in Pathward Financial, Inc. (NASDAQ:CASH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,907 shares of the savings and loans company’s stock, valued at approximately $435,000.

Several other large investors also recently added to or reduced their stakes in the business. Moody Aldrich Partners LLC grew its position in Pathward Financial by 11.5% in the fourth quarter. Moody Aldrich Partners LLC now owns 138,409 shares of the savings and loans company’s stock worth $10,184,000 after acquiring an additional 14,292 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in shares of Pathward Financial during the 4th quarter worth $267,437,000. KBC Group NV boosted its holdings in shares of 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 buying an additional 445 shares during the period. Inspire Investing LLC bought a new stake in shares of Pathward Financial during the 4th quarter worth $816,000. Finally, RMR Wealth Builders boosted its holdings in shares of Pathward Financial by 88.3% during the 4th quarter. RMR Wealth Builders now owns 40,406 shares of the savings and loans company’s stock worth $2,973,000 after buying an additional 18,947 shares during the period. 92.66% of the stock is owned by institutional investors.

Pathward Financial Price Performance

Shares of Pathward Financial stock opened at $81.54 on Friday. 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 fifty-two week low of $46.68 and a fifty-two week high of $86.00. The firm has a fifty day moving average price of $78.14 and a two-hundred day moving average price of $72.62. The company has a market cap of $1.97 billion, a PE ratio of 11.89 and a beta of 0.73.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $1.06 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Analysts expect that Pathward Financial, Inc. will post 7.26 EPS for the current year.

Pathward Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on CASH. Keefe, Bruyette & Woods upped their price objective on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler decreased their price objective 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.

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.