Healthcare of Ontario Pension Plan Trust Fund has reduced its stake in Pathward Financial, Inc. by 2.3% during the first quarter, as reported in its most recent filing with the Securities and Exchange Commission (SEC) on September 10, 2023. The fund now owns 504,000 shares of Pathward Financial, down from 516,000 shares it held previously.
The shares sold by Healthcare of Ontario Pension Plan Trust Fund amount to approximately 1.87% of Pathward Financial’s total value. At the end of the reporting period, the ownership was valued at $20,911,000.
Pathward Financial is a savings and loans company listed on Nasdaq under the ticker symbol CASH. In addition to this update regarding its holdings, Pathward Financial also recently announced that it will be paying a quarterly dividend on October 2nd. Stockholders registered as of September 12th will receive a dividend payment of $0.05 per share.
The ex-dividend date for this payment is set for September 11th. With an annualized dividend payout ratio (DPR) presently at 3.66%, this represents a $0.20 dividend on an annual basis and a dividend yield of 0.41%.
Investors following Pathward Financial’s progress may find this information helpful when analyzing their investment options. Changes in ownership and dividend payments can indicate how a company is performing financially and may offer insights into its future prospects.
It is important to note that these figures are accurate as of the reference date provided and are subject to change as new information becomes available or due to fluctuations in the market.
In conclusion, Healthcare of Ontario Pension Plan Trust Fund has decreased its stake in Pathward Financial by selling some shares during the first quarter of this year. Furthermore, Pathward Financial has announced a quarterly dividend payment scheduled for October 2nd . Investors should consider these updates when making investment decisions and stay updated on any future developments.
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Institutional Investors Increase Positions in Pathward Financial, Indicating Potential Value and Growth
As the financial landscape continues to evolve, investors are constantly seeking opportunities to optimize their portfolios. Recent reports indicate that several major investors have made significant changes to their positions in Pathward Financial (NASDAQ:CASH), a savings and loans company. These adjustments by prominent institutions highlight the potential value and growth prospects of the company.
One notable investor that has increased its position in Pathward Financial is Citigroup Inc. During the fourth quarter, Citigroup Inc. raised its stake in the company by 15.6%. This move demonstrates confidence in Pathward Financial’s future performance and emphasizes its potential as an investment option. Citigroup Inc. now owns 18,979 shares of the company’s stock, which is valued at approximately $817,000.
Another significant investor that has shown interest in Pathward Financial is GPS Wealth Strategies Group LLC. During the first quarter, GPS Wealth Strategies Group LLC acquired a new stake in the company valued at $161,000. This acquisition further underscores the attractiveness of Pathward Financial as an investment opportunity.
Furthermore, Barclays PLC also increased its position in Pathward Financial during the first quarter by 64.9%. The banking institution now owns 34,293 shares of the company’s stock valued at approximately $1,423,000.
Foundry Partners LLC followed suit by purchasing a new stake in Pathward Financial during the first quarter for $3,576,000. This substantial investment highlights Foundry Partners LLC’s belief in the growth potential of Pathward Financial.
Lastly, Phocas Financial Corp., despite only increasing its position by 1% during the first quarter, demonstrates further institutional support for Pathward Financial. With Phocas Financial Corp.’s additional acquisition of 2,258 shares valued at $9,347,000, it indicates prolonged confidence in this particular investment endeavor.
Overall, these standout institutional investments reveal strong faith from leading institutions within the finance industry regarding the profitability and stability of Pathward Financial. The fact that 92.66% of the company’s stock is owned by hedge funds and other institutional investors further reinforces the promising prospects of the company.
In addition to the surge in investor interest, research reports have shed light on Pathward Financial. StockNews.com recently initiated coverage on the company, giving it a “hold” rating. Furthermore, Piper Sandler increased its price target for Pathward Financial from $62.00 to $67.00, indicating a positive outlook for the company’s stock performance.
Looking at the financial figures, shares of NASDAQ CASH opened at $49.13 on September 10, 2023. Pathward Financial has experienced a significant range in its stock price over the past year with a 52-week low of $31.66 and a 52-week high of $60.49.
Examining key financial metrics, Pathward Financial presents favorable indicators. The company boasts a 50-day simple moving average of $50.49 and a two-hundred day simple moving average of $47.05, reflecting consistent growth trends over time.
Moreover, Pathward Financial maintains a quick ratio of 0.67 and a current ratio of 0.68, showcasing its ability to meet short-term obligations efficiently. With a debt-to-equity ratio standing at an impressively low rate of 0.05, it demonstrates prudent financial management.
Pathward Financial recently released its earnings results for the quarter ending July 26th with impressive figures to report. The savings and loans company yielded an EPS (earnings per share) of $1.76, surpassing market expectations by an impressive margin of $0.34 per share.
Furthermore, Pathward Financial achieved a return on equity rate of 24.16% and secured an enviable net margin rate of 22.39%. Despite falling just shy of consensus revenue estimates with reported earnings of $165.20 million compared to the projected $167.59 million, these figures showcase consistent profitability and sustainability.
Looking ahead, research analysts anticipate that Pathward Financial will post a total of 6 earnings per share for the current fiscal year, indicating continued growth potential in its operations.
In summary, the recent activities of prominent investors and positive research reports have heightened investor interest in Pathward Financial. The influx of investments from institutional players like Citigroup Inc., GPS Wealth Strategies Group LLC, Barclays PLC, Foundry Partners LLC, and Phocas Financial Corp. highlights a collective confidence in the company’s future prospects.
With attractive financial metrics, including impressive EPS figures, robust returns on equity and net margins, as well as consistent revenue generation, Pathward Financial appears poised for continued success and development. As we move forward into an uncertain but intriguing financial landscape, it is crucial to identify opportunities like Pathward Financial that exhibit stability and growth potential for prudent investors seeking to optimize their portfolios.