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

Pathward Financial, Inc. (NASDAQ:CASH) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Shareholders of record on Tuesday, December 12th will be given a dividend of 0.05 per share by the savings and loans company on Tuesday, January 2nd. This represents a $0.20 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, December 11th.

Pathward Financial has a payout ratio of 3.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pathward Financial to earn $6.77 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 3.0%.

Pathward Financial Price Performance

CASH traded up $0.13 during midday trading on Friday, hitting $50.04. 168,017 shares of the company traded hands, compared to its average volume of 222,233. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 8.32 and a beta of 0.81. Pathward Financial has a 52-week low of $39.75 and a 52-week high of $60.49. The business has a 50 day simple moving average of $47.07 and a two-hundred day simple moving average of $48.00.

Pathward Financial (NASDAQ:CASH) last posted its quarterly earnings results on Wednesday, October 25th. The savings and loans company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.07. The firm had revenue of $160.99 million for the quarter, compared to the consensus estimate of $155.57 million. Pathward Financial had a net margin of 22.80% and a return on equity of 24.95%. The company’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share. On average, equities analysts forecast that Pathward Financial will post 6.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Pathward Financial from $62.00 to $67.00 in a research note on Thursday, July 27th. StockNews.com assumed coverage on shares of Pathward Financial in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.

Hedge Funds Weigh In On Pathward Financial

Institutional investors have recently bought and sold shares of the company. Diversified Trust Co acquired a new stake in shares of Pathward Financial during the third quarter valued at about $316,000. Morgan Stanley increased its position in shares of Pathward Financial by 15.9% during the third quarter. Morgan Stanley now owns 377,357 shares of the savings and loans company’s stock valued at $17,392,000 after acquiring an additional 51,716 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Pathward Financial by 21.5% during the third quarter. The Manufacturers Life Insurance Company now owns 13,616 shares of the savings and loans company’s stock valued at $628,000 after acquiring an additional 2,411 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Pathward Financial during the third quarter valued at about $609,000. Finally, JPMorgan Chase & Co. increased its position in shares of Pathward Financial by 56.3% during the third quarter. JPMorgan Chase & Co. now owns 509,455 shares of the savings and loans company’s stock valued at $23,481,000 after acquiring an additional 183,550 shares during the last quarter. 92.66% of the stock is owned by hedge funds and other institutional investors.

About Pathward Financial

Pathward Financial, Inc operates as the 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, money market savings accounts, and certificate accounts.