Pathward Financial, Inc. (CASH) to Issue Quarterly Dividend of $0.05 on January 2nd

Pathward Financial, Inc. (NASDAQ:CASH) announced a quarterly dividend on Thursday, November 16th, 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 dividend payout ratio of 3.1% meaning its dividend is sufficiently covered by earnings. Equities 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 opened at $50.04 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.05. Pathward Financial has a 52-week low of $39.75 and a 52-week high of $60.49. The company has a 50 day moving average of $47.09 and a two-hundred day moving average of $48.04. The company has a market cap of $1.31 billion, a P/E ratio of 8.33 and a beta of 0.81.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CASH. StockNews.com began coverage on shares of Pathward Financial in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Piper Sandler boosted their target price on shares of Pathward Financial from $62.00 to $67.00 in a research report on Thursday, July 27th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Diversified Trust Co acquired a new stake in Pathward Financial in the third quarter valued at $316,000. Morgan Stanley raised its holdings in Pathward Financial by 15.9% in 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Pathward Financial by 21.5% in 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 in the last quarter. Sei Investments Co. acquired a new stake in Pathward Financial in the third quarter valued at $609,000. Finally, JPMorgan Chase & Co. raised its holdings 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 worth $23,481,000 after purchasing an additional 183,550 shares during the period. 92.66% of the stock is owned by institutional investors and hedge funds.

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.