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

Pathward Financial, Inc. (NASDAQ:CASH - Get Free Report) declared a quarterly dividend on Thursday, May 22nd, RTT News reports. Investors 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 yield of 0.26%.

Pathward Financial has a dividend payout ratio of 2.4% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NASDAQ:CASH traded down $0.14 during trading on Thursday, reaching $78.04. The company had a trading volume of 12,992 shares, compared to its average volume of 196,323. The firm's fifty day moving average is $75.39 and its 200 day moving average is $77.13. 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 $1.86 billion, a PE ratio of 11.35 and a beta of 0.64. Pathward Financial has a twelve month low of $51.97 and a twelve month high of $86.00.

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

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their target price on shares of Pathward Financial from $91.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd.

Insider Transactions at Pathward Financial

In related news, Director Douglas J. Hajek sold 1,850 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $79.26, for a total value of $146,631.00. Following the completion of the transaction, the director now owns 19,631 shares in the company, valued at $1,555,953.06. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kendall E. Stork sold 4,000 shares of Pathward Financial stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.33, for a total value of $317,320.00. Following the completion of the transaction, the director now directly owns 6,153 shares in the company, valued at $488,117.49. This represents a 39.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,882 shares of company stock valued at $1,403,123 over the last three months. Company insiders own 1.23% of the company's stock.

Institutional Trading of Pathward Financial

A number of hedge funds have recently modified their holdings of CASH. Revolve Wealth Partners LLC acquired a new position in Pathward Financial during the fourth quarter valued at $267,437,000. Millennium Management LLC boosted its holdings in shares of Pathward Financial by 264.1% during the first quarter. Millennium Management LLC now owns 128,645 shares of the savings and loans company's stock worth $9,385,000 after purchasing an additional 93,308 shares during the period. AQR Capital Management LLC grew its position in Pathward Financial by 61.3% during the first quarter. AQR Capital Management LLC now owns 9,152 shares of the savings and loans company's stock valued at $668,000 after purchasing an additional 3,479 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Pathward Financial by 21.2% in the 1st quarter. Royal Bank of Canada now owns 5,057 shares of the savings and loans company's stock valued at $369,000 after buying an additional 886 shares during the period. Hedge funds and other institutional investors 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.

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