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

Pathward Financial, Inc. (NASDAQ:CASH - Get Free Report) announced a quarterly dividend on Monday, May 26th, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.05 per share by the savings and loans company on Tuesday, July 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, June 13th.

Pathward Financial has a dividend payout ratio of 2.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Pathward Financial to earn $8.48 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 2.4%.

Pathward Financial Trading Up 1.5%

Shares of NASDAQ CASH traded up $1.13 during trading on Tuesday, hitting $78.41. 39,114 shares of the company were exchanged, compared to its average volume of 196,431. The company has a fifty day moving average price of $75.67 and a 200-day moving average price of $77.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.77. The firm has a market capitalization of $1.87 billion, a PE ratio of 11.42 and a beta of 0.64. Pathward Financial has a 12-month low of $51.97 and a 12-month high of $86.00.

Pathward Financial (NASDAQ:CASH - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The savings and loans company reported $3.11 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.40. Pathward Financial had a net margin of 21.91% and a return on equity of 22.02%. The company had revenue of $262.90 million for the quarter, compared to the consensus estimate of $256.30 million. During the same period in the previous year, the firm earned $2.56 earnings per share. As a group, equities research analysts expect that Pathward Financial will post 7.26 EPS for the current year.

Analyst Ratings Changes

Separately, Piper Sandler upped their price objective on Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd.

Insider Transactions at Pathward Financial

In other Pathward Financial news, Director Kendall E. Stork sold 4,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.33, for a total value of $317,320.00. Following the transaction, the director now owns 6,153 shares of the company's stock, valued at $488,117.49. This represents a 39.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brett L. Pharr sold 10,365 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $78.07, for a total transaction of $809,195.55. Following the transaction, the chief executive officer now directly owns 69,750 shares of the company's stock, valued at approximately $5,445,382.50. This trade represents a 12.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,882 shares of company stock worth $1,403,123. 1.23% of the stock is currently owned by company insiders.

Institutional Trading of Pathward Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in Pathward Financial by 21.2% during the first quarter. Royal Bank of Canada now owns 5,057 shares of the savings and loans company's stock worth $369,000 after purchasing an additional 886 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Pathward Financial by 61.3% in the 1st quarter. AQR Capital Management LLC now owns 9,152 shares of the savings and loans company's stock valued at $668,000 after buying an additional 3,479 shares during the period. Millennium Management LLC lifted its stake in Pathward Financial by 264.1% during the 1st quarter. Millennium Management LLC now owns 128,645 shares of the savings and loans company's stock worth $9,385,000 after acquiring an additional 93,308 shares in the last quarter. Finally, Revolve Wealth Partners LLC acquired a new position in Pathward Financial during the 4th quarter worth about $267,437,000. Institutional investors and hedge funds own 92.66% of the company's stock.

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.