Pathward Financial, Inc. (CASH) to Issue Quarterly Dividend of $0.05 on October 1st

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

Pathward Financial has a payout ratio of 2.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of Pathward Financial stock opened at $67.22 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.73 and a quick ratio of 0.72. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 10.09 and a beta of 0.68. The stock’s 50-day moving average is $63.57 and its 200-day moving average is $55.96. Pathward Financial has a one year low of $41.79 and a one year high of $69.63.

Pathward Financial (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, July 24th. The savings and loans company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Pathward Financial had a return on equity of 23.59% and a net margin of 22.10%. The firm had revenue of $176.73 million during the quarter, compared to the consensus estimate of $176.63 million. During the same quarter in the prior year, the firm posted $1.76 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Equities analysts predict that Pathward Financial will post 6.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Pathward Financial from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their target price on Pathward Financial from $58.00 to $67.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th.

Pathward Financial Company Profile

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.