Bank of New York Mellon Corp boosted its stake in Meta Financial Group, Inc. (NASDAQ:CASH) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 54,175 shares of the savings and loans company’s stock after buying an additional 3,532 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of Meta Financial Group worth $4,794,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of CASH. Bank of Montreal Can purchased a new stake in shares of Meta Financial Group during the first quarter valued at about $3,104,000. Dimensional Fund Advisors LP boosted its stake in shares of Meta Financial Group by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 420,331 shares of the savings and loans company’s stock valued at $43,252,000 after buying an additional 33,724 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Meta Financial Group by 24.6% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 156,195 shares of the savings and loans company’s stock valued at $13,823,000 after buying an additional 30,868 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Meta Financial Group during the fourth quarter valued at about $2,700,000. Finally, Allianz Asset Management AG purchased a new stake in shares of Meta Financial Group during the fourth quarter valued at about $2,097,000. 73.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Meta Financial Group, Inc. (CASH) traded up 0.64% during trading on Wednesday, reaching $93.65. The company’s stock had a trading volume of 46,460 shares. The company has a market capitalization of $875.53 million, a PE ratio of 17.22 and a beta of 0.93. The stock has a 50 day moving average of $89.94 and a 200-day moving average of $89.66. Meta Financial Group, Inc. has a 1-year low of $54.13 and a 1-year high of $106.90.
Meta Financial Group (NASDAQ:CASH) last issued its quarterly earnings data on Wednesday, April 26th. The savings and loans company reported $4.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.96 by $0.15. Meta Financial Group had a return on equity of 16.92% and a net margin of 19.51%. The business had revenue of $116.14 million during the quarter, compared to analysts’ expectations of $118.38 million. On average, analysts expect that Meta Financial Group, Inc. will post $5.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Wednesday, June 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.56%. Meta Financial Group’s payout ratio is presently 9.81%.
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CASH has been the topic of several recent research reports. Zacks Investment Research raised Meta Financial Group from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $121.00 price objective on shares of Meta Financial Group in a report on Wednesday, April 5th. ValuEngine downgraded Meta Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 26th. BidaskClub raised Meta Financial Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, FBR & Co set a $130.00 price objective on Meta Financial Group and gave the company a “buy” rating in a research report on Thursday, June 1st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $116.00.
In related news, Chairman J Tyler Haahr sold 5,000 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $86.27, for a total transaction of $431,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas J. Hajek sold 440 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $90.31, for a total value of $39,736.40. Following the transaction, the director now directly owns 2,867 shares of the company’s stock, valued at $258,918.77. The disclosure for this sale can be found here. Insiders sold 15,440 shares of company stock valued at $1,355,336 over the last ninety days. Insiders own 6.06% of the company’s stock.
Meta Financial Group Company Profile
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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