Pathward Financial, Inc. (NASDAQ:CASH) to Issue $0.05 Quarterly Dividend

Pathward Financial, Inc. (NASDAQ:CASH) announced a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Stockholders of record on Tuesday, June 11th will be paid a dividend of 0.05 per share by the savings and loans company on Monday, July 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Tuesday, June 11th.

Pathward Financial has a dividend payout ratio of 2.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Pathward Financial to earn $6.86 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 2.9%.

Pathward Financial Trading Up 0.3 %

NASDAQ:CASH opened at $53.97 on Friday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 8.10 and a beta of 0.66. The business has a fifty day moving average of $50.36 and a 200-day moving average of $50.54. Pathward Financial has a 1 year low of $41.79 and a 1 year high of $60.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.71 and a current ratio of 0.71.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings data on Wednesday, April 24th. The savings and loans company reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.19. Pathward Financial had a net margin of 22.90% and a return on equity of 25.09%. The company had revenue of $247.25 million for the quarter, compared to analysts’ expectations of $240.46 million. During the same quarter in the previous year, the company posted $2.18 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that Pathward Financial will post 6.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler decreased their price target on Pathward Financial from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Keefe, Bruyette & Woods lowered their price objective on Pathward Financial from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th.

Insider Activity

In other news, President Anthony M. Sharett sold 1,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $47.50, for a total transaction of $47,500.00. Following the transaction, the president now owns 33,146 shares of the company’s stock, valued at $1,574,435. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kendall E. Stork sold 2,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $53.53, for a total transaction of $107,060.00. Following the sale, the director now owns 11,213 shares of the company’s stock, valued at approximately $600,231.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Anthony M. Sharett sold 1,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $47.50, for a total value of $47,500.00. Following the completion of the transaction, the president now directly owns 33,146 shares of the company’s stock, valued at $1,574,435. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.