Zacks Investment Research upgraded shares of Meta Financial Group, Inc. (NASDAQ:CASH) from a hold rating to a buy rating in a research note published on Tuesday, June 27th. Zacks Investment Research currently has $97.00 price objective on the savings and loans company’s stock.
According to Zacks, “Meta Financial Group, Inc. is the holding company for federally chartered savings bank MetaBank, Member FDIC. Headquartered in Sioux Falls, S.D., MetaBank operates in both the Banking and Payments industries: MetaBank, its retail banking division; Meta Payment Systems, its electronic payments division; AFS/IBEX, its insurance premium finance division; and Refund Advantage, its tax refund-transfer software division. The synergies among the four provide a unique business model for the company. “
Other analysts have also issued research reports about the stock. ValuEngine lowered shares of Meta Financial Group from a strong-buy rating to a buy rating in a report on Friday, May 26th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $121.00 target price on shares of Meta Financial Group in a report on Wednesday, April 5th. Finally, FBR & Co set a $130.00 target price on shares of Meta Financial Group and gave the stock a buy rating in a report on Thursday, June 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $116.00.
Meta Financial Group (CASH) opened at 91.90 on Tuesday. The company has a market capitalization of $859.17 million, a PE ratio of 16.90 and a beta of 0.93. The company has a 50-day moving average of $87.11 and a 200-day moving average of $91.04. Meta Financial Group has a 52 week low of $51.01 and a 52 week high of $106.90.
Meta Financial Group (NASDAQ:CASH) last posted its earnings results on Wednesday, April 26th. The savings and loans company reported $4.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.96 by $0.15. The business had revenue of $116.14 million for the quarter, compared to analyst estimates of $118.38 million. Meta Financial Group had a net margin of 19.51% and a return on equity of 16.92%. On average, equities research analysts anticipate that Meta Financial Group will post $5.44 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Wednesday, June 7th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Monday, June 5th. Meta Financial Group’s payout ratio is 9.81%.
In other news, Chairman J Tyler Haahr sold 5,000 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $86.27, for a total value of $431,350.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas J. Hajek sold 440 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $90.31, for a total transaction of $39,736.40. Following the completion of the transaction, the director now directly owns 2,867 shares in the company, valued at approximately $258,918.77. The disclosure for this sale can be found here. Insiders sold a total of 15,440 shares of company stock worth $1,355,336 in the last three months. Insiders own 6.06% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Second Curve Capital LLC raised its position in Meta Financial Group by 49.2% in the first quarter. Second Curve Capital LLC now owns 424,732 shares of the savings and loans company’s stock valued at $37,589,000 after buying an additional 140,000 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in Meta Financial Group during the fourth quarter valued at approximately $14,211,000. Stifel Financial Corp raised its position in Meta Financial Group by 2,444.8% in the first quarter. Stifel Financial Corp now owns 109,909 shares of the savings and loans company’s stock valued at $9,762,000 after buying an additional 105,590 shares in the last quarter. Thrivent Financial For Lutherans raised its position in Meta Financial Group by 72.8% in the first quarter. Thrivent Financial For Lutherans now owns 238,690 shares of the savings and loans company’s stock valued at $21,124,000 after buying an additional 100,580 shares in the last quarter. Finally, Elk Creek Partners LLC acquired a new position in Meta Financial Group during the first quarter valued at approximately $5,743,000. 73.81% of the stock is currently owned by institutional investors.
About Meta Financial Group
Meta Financial Group, Inc is a unitary savings and loan holding company. The Company operates through its banking subsidiary, MetaBank (the Bank). Its segments include Payments, Banking, and Corporate Services/Other. MetaBank is both a community-oriented financial institution offering a range of financial services to meet the needs of the communities it serves and a payments company providing services on a nationwide basis.
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