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

Pathward Financial, Inc. (NASDAQ:CASH) announced a quarterly dividend on Thursday, August 22nd, Wall Street Journal reports. Investors of record on Tuesday, September 10th will be given a dividend of 0.05 per share by the savings and loans company on Tuesday, October 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Tuesday, September 10th.

Pathward Financial has a payout ratio of 2.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Pathward Financial to earn $7.14 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 2.8%.

Pathward Financial Stock Up 4.2 %

Shares of NASDAQ CASH traded up $2.69 during mid-day trading on Friday, hitting $67.03. 139,895 shares of the stock traded hands, compared to its average volume of 178,815. The stock has a fifty day moving average price of $60.76 and a 200-day moving average price of $54.67. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 10.06 and a beta of 0.68. Pathward Financial has a 52 week low of $41.79 and a 52 week high of $69.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.73.

Pathward Financial (NASDAQ:CASH) last announced its quarterly earnings data on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $176.73 million during the quarter, compared to analysts’ expectations of $176.63 million. Pathward Financial had a return on equity of 23.59% and a net margin of 22.10%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.76 earnings per share. Research analysts anticipate that Pathward Financial will post 6.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods upped their price target on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a 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.