Zacks Investment Research upgraded shares of Meta Financial Group, Inc. (NASDAQ:CASH) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
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 equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods restated a buy rating and issued a $121.00 target price on shares of Meta Financial Group in a research note on Thursday, July 27th. BidaskClub upgraded Meta Financial Group from a hold rating to a buy rating in a research note on Thursday, July 6th. FBR & Co set a $130.00 target price on Meta Financial Group and gave the company a buy rating in a research note on Thursday, June 1st. Finally, ValuEngine downgraded Meta Financial Group from a strong-buy rating to a buy rating in a research note on Thursday, August 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Meta Financial Group presently has a consensus rating of Hold and a consensus target price of $104.33.
Shares of Meta Financial Group (NASDAQ:CASH) opened at 78.40 on Wednesday. Meta Financial Group has a 12-month low of $59.52 and a 12-month high of $106.90. The stock has a 50 day moving average price of $71.08 and a 200 day moving average price of $83.36. The stock has a market capitalization of $732.96 million, a P/E ratio of 14.45 and a beta of 0.88.
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The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.52 dividend on an annualized basis and a yield of 0.66%. Meta Financial Group’s payout ratio is currently 9.81%.
In other Meta Financial Group news, Director Frederick V. Moore purchased 1,393 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were bought at an average price of $71.70 per share, with a total value of $99,878.10. Following the completion of the acquisition, the director now owns 100 shares in the company, valued at approximately $7,170. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman J Tyler Haahr sold 5,000 shares of Meta Financial Group stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $73.07, for a total value of $365,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,450 shares of company stock worth $842,438. Corporate insiders own 6.06% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Meta Financial Group during the second quarter valued at approximately $112,000. Victory Capital Management Inc. bought a new stake in shares of Meta Financial Group during the first quarter valued at approximately $122,000. Legal & General Group Plc raised its holdings in shares of Meta Financial Group by 6.6% during the second quarter. Legal & General Group Plc now owns 2,100 shares of the savings and loans company’s stock valued at $186,000 after buying an additional 130 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Meta Financial Group by 86.6% during the first quarter. Bank of America Corp DE now owns 2,112 shares of the savings and loans company’s stock valued at $187,000 after buying an additional 980 shares during the last quarter. Finally, 1st Global Advisors Inc. raised its holdings in shares of Meta Financial Group by 1.3% during the second quarter. 1st Global Advisors Inc. now owns 2,461 shares of the savings and loans company’s stock valued at $219,000 after buying an additional 32 shares during the last quarter. 74.23% of the stock is currently owned by institutional investors.
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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