Zacks Investment Research upgraded shares of Meta Financial Group, Inc. (NASDAQ:CASH) from a sell rating to a hold rating in a research note issued 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. “
A number of other brokerages have also commented on CASH. FBR & Co lowered Meta Financial Group from an outperform rating to a market perform rating and set a $95.00 price target on the stock. in a report on Friday, July 28th. Keefe, Bruyette & Woods reissued a buy rating and set a $121.00 price target on shares of Meta Financial Group in a report on Thursday, July 27th. BidaskClub raised Meta Financial Group from a hold rating to a buy rating in a report on Thursday, July 6th. Finally, ValuEngine raised Meta Financial Group from a buy rating to a strong-buy rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $104.33.
Shares of Meta Financial Group (NASDAQ CASH) opened at 78.40 on Wednesday. The stock has a market capitalization of $732.96 million, a price-to-earnings ratio of 14.45 and a beta of 0.88. The firm’s 50 day moving average is $71.08 and its 200 day moving average is $83.36. Meta Financial Group has a 12 month low of $59.52 and a 12 month high of $106.90.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, September 7th. Meta Financial Group’s dividend payout ratio (DPR) is 9.81%.
In related news, Director Frederick V. Moore sold 450 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $71.75, for a total transaction of $32,287.50. Following the completion of the transaction, the director now owns 100 shares of the company’s stock, valued at $7,175. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman J Tyler Haahr sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $88.96, for a total value of $444,800.00. The disclosure for this sale can be found here. Insiders have sold 10,450 shares of company stock worth $842,438 over the last three months. Corporate insiders own 6.06% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP boosted its stake in Meta Financial Group by 71.8% during the second quarter. First Trust Advisors LP now owns 42,948 shares of the savings and loans company’s stock valued at $3,822,000 after buying an additional 17,946 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Meta Financial Group by 1.4% during the first quarter. Wells Fargo & Company MN now owns 5,531 shares of the savings and loans company’s stock valued at $490,000 after buying an additional 78 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Meta Financial Group by 22.1% during the second quarter. Pacific Ridge Capital Partners LLC now owns 73,396 shares of the savings and loans company’s stock valued at $6,532,000 after buying an additional 13,270 shares in the last quarter. AQR Capital Management LLC boosted its stake in Meta Financial Group by 0.4% during the first quarter. AQR Capital Management LLC now owns 32,982 shares of the savings and loans company’s stock valued at $2,919,000 after buying an additional 135 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Meta Financial Group by 21.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 37,622 shares of the savings and loans company’s stock valued at $3,330,000 after buying an additional 6,675 shares in the last quarter. 74.23% of the stock is owned by institutional investors and hedge funds.
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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