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

Pathward Financial, Inc. (NASDAQ:CASH - Get Free Report) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Shareholders of record on Tuesday, December 10th will be paid 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 is Tuesday, December 10th.

Pathward Financial has a dividend payout ratio of 2.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 trading on Friday, hitting $82.90. The company had a trading volume of 171,499 shares, compared to its average volume of 180,891. The firm has a market capitalization of $2.07 billion, a P/E ratio of 12.21 and a beta of 0.67. The company has a 50 day simple moving average of $71.92 and a 200-day simple moving average of $63.93. Pathward Financial has a 52-week low of $46.68 and a 52-week high of $83.83. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.04.

Pathward Financial (NASDAQ:CASH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The savings and loans company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.08. Pathward Financial had a return on equity of 21.86% and a net margin of 21.65%. The company had revenue of $167.90 million for the quarter, compared to analysts' expectations of $167.20 million. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Pathward Financial's revenue was up 4.4% compared to the same quarter last year. As a group, research analysts forecast that Pathward Financial will post 7.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on CASH shares. Keefe, Bruyette & Woods raised their target price on shares of Pathward Financial from $58.00 to $67.00 and gave the company a "market perform" rating in a research report on Thursday, July 25th. Piper Sandler upped their target price on Pathward Financial from $75.00 to $82.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th.

Insiders Place Their Bets

In other Pathward Financial news, President Anthony M. Sharett sold 3,100 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $66.40, for a total transaction of $205,840.00. Following the sale, the president now directly owns 30,046 shares of the company's stock, valued at approximately $1,995,054.40. This trade represents a 9.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Greg Sigrist sold 2,250 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was 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 in the company, valued at approximately $777,306.40. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,350 shares of company stock valued at $517,010. 0.72% of the stock is owned by company insiders.

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.

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