Zacks Investment Research upgraded shares of Meta Financial Group (NASDAQ:CASH) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. The firm currently has $19.00 price target 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. “
CASH has been the topic of a number of other reports. ValuEngine upgraded Meta Financial Group from a strong sell rating to a sell rating in a research report on Thursday, April 23rd. Piper Sandler decreased their price target on Meta Financial Group from $25.00 to $24.00 and set an overweight rating on the stock in a research report on Thursday, April 23rd. TheStreet lowered Meta Financial Group from a b- rating to a c+ rating in a research report on Friday, March 27th. Raymond James decreased their price target on Meta Financial Group from $30.00 to $25.00 and set a strong-buy rating on the stock in a research report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods lowered Meta Financial Group from an outperform rating to a market perform rating and set a $29.00 price target on the stock. in a research report on Wednesday, April 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Meta Financial Group has an average rating of Hold and a consensus price target of $24.40.
CASH stock opened at $17.55 on Wednesday. Meta Financial Group has a 1-year low of $13.09 and a 1-year high of $40.00. The firm has a market cap of $607.37 million, a P/E ratio of 5.33 and a beta of 1.20. The business’s 50 day moving average is $18.23 and its 200-day moving average is $25.67. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.26.
Meta Financial Group (NASDAQ:CASH) last released its quarterly earnings data on Wednesday, April 22nd. The savings and loans company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.26. Meta Financial Group had a return on equity of 12.64% and a net margin of 22.05%. The company had revenue of $188.25 million for the quarter, compared to analyst estimates of $177.73 million. Sell-side analysts forecast that Meta Financial Group will post 1.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th were given a $0.05 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.20 dividend on an annualized basis and a yield of 1.14%. Meta Financial Group’s payout ratio is 7.52%.
In other Meta Financial Group news, Director Frederick V. Moore sold 3,300 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $19.42, for a total value of $64,086.00. Following the transaction, the director now directly owns 1,380 shares in the company, valued at approximately $26,799.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William David Tull sold 46,005 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $19.74, for a total value of $908,138.70. The disclosure for this sale can be found here. 4.67% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. acquired a new position in shares of Meta Financial Group in the 4th quarter valued at $26,000. Penserra Capital Management LLC acquired a new position in shares of Meta Financial Group in the 4th quarter valued at $54,000. Advisor Group Holdings Inc. acquired a new position in shares of Meta Financial Group in the 1st quarter valued at $58,000. Acadian Asset Management LLC acquired a new position in shares of Meta Financial Group in the 1st quarter valued at $59,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Meta Financial Group by 33.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,642 shares of the savings and loans company’s stock valued at $60,000 after purchasing an additional 411 shares during the period. 77.83% of the stock is currently owned by institutional investors.
About Meta Financial Group
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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