50,761,060 Shares in Pathward Financial, Inc. (NASDAQ:CASH) Purchased by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. purchased a new position in Pathward Financial, Inc. (NASDAQ:CASH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 50,761,060 shares of the savings and loans company’s stock, valued at approximately $3,734,999,000. Pathward Financial makes up 84.9% of Pinnacle Wealth Planning Services Inc.’s portfolio, making the stock its biggest holding. Pinnacle Wealth Planning Services Inc. owned about 2.10% of Pathward Financial as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Revolve Wealth Partners LLC bought a new position in shares of Pathward Financial in the 4th quarter worth about $267,437,000. FMR LLC increased its stake in Pathward Financial by 6.9% during the 3rd quarter. FMR LLC now owns 2,052,287 shares of the savings and loans company’s stock valued at $135,471,000 after purchasing an additional 132,067 shares in the last quarter. State Street Corp increased its stake in Pathward Financial by 1.4% during the 3rd quarter. State Street Corp now owns 1,274,851 shares of the savings and loans company’s stock valued at $84,218,000 after purchasing an additional 17,004 shares in the last quarter. Geode Capital Management LLC increased its stake in Pathward Financial by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 699,884 shares of the savings and loans company’s stock valued at $46,206,000 after purchasing an additional 18,936 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Pathward Financial by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,455 shares of the savings and loans company’s stock valued at $24,388,000 after purchasing an additional 3,042 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CASH. Piper Sandler reduced their price objective on shares of Pathward Financial from $94.00 to $91.00 and set an “overweight” rating for the company in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Pathward Financial from $76.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Pathward Financial Stock Performance

Shares of NASDAQ CASH opened at $73.05 on Thursday. The firm has a 50 day moving average of $77.37 and a 200 day moving average of $74.62. 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 firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.65 and a beta of 0.73. Pathward Financial, Inc. has a 12-month low of $46.68 and a 12-month high of $86.00.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings results on Tuesday, January 21st. The savings and loans company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $173.51 million during the quarter, compared to analyst estimates of $173.27 million. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 earnings per share. On average, research analysts anticipate that Pathward Financial, Inc. will post 7.26 earnings per share for the current year.

Pathward Financial Dividend Announcement

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