Teacher Retirement System of Texas Increases Stake in Pathward Financial, Inc. (NASDAQ:CASH)

Teacher Retirement System of Texas raised its holdings in shares of Pathward Financial, Inc. (NASDAQ:CASH) by 19.3% during the 4th quarter, HoldingsChannel reports. The fund owned 45,470 shares of the savings and loans company’s stock after acquiring an additional 7,364 shares during the quarter. Teacher Retirement System of Texas’ holdings in Pathward Financial were worth $3,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new position in Pathward Financial during the third quarter valued at $35,000. Smartleaf Asset Management LLC raised its stake in shares of Pathward Financial by 302.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 551 shares of the savings and loans company’s stock worth $41,000 after buying an additional 414 shares during the period. KBC Group NV lifted its position 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 valued at $104,000 after buying an additional 445 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pathward Financial during the 3rd quarter valued at approximately $94,000. Finally, Raymond James Financial Inc. purchased a new stake in Pathward Financial in the 4th quarter worth approximately $279,000. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CASH has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Pathward Financial from $76.00 to $90.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler dropped their target price 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 Stock Up 1.6 %

Shares of CASH opened at $75.31 on Tuesday. Pathward Financial, Inc. has a 12-month low of $48.15 and a 12-month high of $86.00. The business’s 50 day moving average is $76.98 and its 200 day moving average is $75.20. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.80 billion, a PE ratio of 10.98 and a beta of 0.69.

Pathward Financial (NASDAQ:CASH) last issued its earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. Pathward Financial had a return on equity of 22.02% and a net margin of 21.91%. The firm had revenue of $173.51 million for the quarter, compared to analysts’ expectations of $173.27 million. During the same period in the previous year, the firm posted $1.06 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Research analysts expect that Pathward Financial, Inc. will post 7.26 earnings per share for the current fiscal year.

Pathward Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Thursday, March 13th. Pathward Financial’s payout ratio is 2.92%.

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.