Meta Financial Group (NASDAQ:CASH) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of Meta Financial Group (NASDAQ:CASH) from a buy rating to a strong-buy rating in a research note published on Monday, BidAskClub reports.

A number of other research analysts have also recently issued reports on CASH. B. Riley lifted their price objective on shares of Meta Financial Group from $25.00 to $27.00 in a research note on Monday, September 21st. Zacks Investment Research raised shares of Meta Financial Group from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research note on Tuesday, September 22nd. Finally, ValuEngine raised shares of Meta Financial Group from a strong sell rating to a sell rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Meta Financial Group currently has a consensus rating of Buy and an average price target of $25.20.

Shares of NASDAQ:CASH opened at $24.32 on Monday. The company’s 50 day simple moving average is $20.71 and its 200 day simple moving average is $18.87. The stock has a market capitalization of $876.77 million, a price-to-earnings ratio of 9.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.86 and a quick ratio of 0.85. Meta Financial Group has a 1 year low of $13.09 and a 1 year high of $40.00.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, September 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.82%. Meta Financial Group’s payout ratio is presently 7.52%.

In other news, Director William David Tull sold 66,749 shares of Meta Financial Group stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $20.66, for a total transaction of $1,379,034.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Glen William Herrick sold 8,854 shares of Meta Financial Group stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $19.78, for a total transaction of $175,132.12. Following the transaction, the chief financial officer now owns 201,497 shares in the company, valued at approximately $3,985,610.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,846 shares of company stock worth $2,450,967. Insiders own 4.67% of the company’s stock.

Large investors have recently modified their holdings of the company. Advisor Group Holdings Inc. acquired a new position in shares of Meta Financial Group during the first quarter worth $58,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Meta Financial Group by 48.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,971 shares of the savings and loans company’s stock valued at $90,000 after buying an additional 1,624 shares during the period. Assetmark Inc. lifted its holdings in Meta Financial Group by 97.1% in the second quarter. Assetmark Inc. now owns 9,034 shares of the savings and loans company’s stock valued at $164,000 after buying an additional 4,451 shares during the period. Exchange Traded Concepts LLC acquired a new position in Meta Financial Group in the second quarter valued at $207,000. Finally, Two Sigma Advisers LP acquired a new position in Meta Financial Group in the second quarter valued at $222,000. Institutional investors own 71.84% of the company’s stock.

Meta Financial Group Company Profile

Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services in the United States. The company accepts various deposit products, including statement savings accounts, money market savings accounts, negotiable order of withdrawal accounts, and checking accounts; and deposits related to prepaid cards, which primarily comprise checking accounts and certificate accounts.

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