Pathward Financial, Inc. Announces Quarterly Dividend of $0.05 (NASDAQ:CASH)

Pathward Financial, Inc. (NASDAQ:CASH) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Tuesday, December 10th will be given a dividend of 0.05 per share by the savings and loans company on Thursday, January 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Tuesday, December 10th.

Pathward Financial has a payout ratio of 2.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Pathward Financial to earn $7.63 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 2.6%.

Pathward Financial Trading Up 2.6 %

CASH stock traded up $2.12 during midday trading on Friday, hitting $82.90. 171,499 shares of the company’s stock were exchanged, compared to its average volume of 180,891. Pathward Financial has a 1-year low of $46.68 and a 1-year high of $83.83. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.07 billion, a PE ratio of 12.21 and a beta of 0.67. The business has a 50-day simple moving average of $71.92 and a two-hundred day simple moving average of $63.93.

Pathward Financial (NASDAQ:CASH) last issued its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.08. The firm had revenue of $167.90 million for the quarter, compared to analyst estimates of $167.20 million. Pathward Financial had a net margin of 21.65% and a return on equity of 21.86%. Pathward Financial’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. On average, sell-side analysts predict that Pathward Financial will post 7.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Pathward Financial news, CFO Greg Sigrist sold 2,250 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.60, for a total value of $181,350.00. Following the sale, the chief financial officer now directly owns 9,644 shares of the company’s stock, valued at approximately $777,306.40. This represents a 18.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Douglas J. Hajek sold 2,000 shares of Pathward Financial stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $64.91, for a total transaction of $129,820.00. Following the sale, the director now directly owns 19,531 shares of the company’s stock, valued at approximately $1,267,757.21. This trade represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,350 shares of company stock valued at $517,010 in the last three months. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Pathward Financial from $75.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised their price target on Pathward Financial from $58.00 to $67.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th.

About Pathward Financial

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.