Zacks Investment Research Lowers Meta Financial Group, Inc. (CASH) to Hold

Zacks Investment Research lowered shares of Meta Financial Group, Inc. (NASDAQ:CASH) from a buy rating to a hold rating in a research note issued to investors on Friday.

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 issued reports on CASH. FBR & Co lowered Meta Financial Group from an outperform rating to a market perform rating and set a $95.00 price target for the company. in a research note on Friday. Keefe, Bruyette & Woods reissued a buy rating and set a $121.00 price target on shares of Meta Financial Group in a research note on Thursday. BidaskClub raised Meta Financial Group from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, ValuEngine lowered Meta Financial Group from a strong-buy rating to a buy rating in a research note on Friday, May 26th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Meta Financial Group presently has a consensus rating of Buy and an average target price of $104.33.

Shares of Meta Financial Group (CASH) traded down 22.11% during trading on Friday, hitting $71.85. The company had a trading volume of 591,175 shares. The stock’s 50-day moving average price is $89.60 and its 200 day moving average price is $89.45. The company has a market capitalization of $671.73 million, a P/E ratio of 13.25 and a beta of 0.93. Meta Financial Group has a 52 week low of $54.13 and a 52 week high of $106.90.

Meta Financial Group (NASDAQ:CASH) last issued its quarterly earnings results on Wednesday, April 26th. The savings and loans company reported $4.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.96 by $0.15. Meta Financial Group had a return on equity of 17.23% and a net margin of 18.74%. The firm had revenue of $116.14 million during the quarter, compared to analyst estimates of $118.38 million. On average, equities research analysts forecast that Meta Financial Group will post $5.34 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Wednesday, June 7th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Monday, June 5th. Meta Financial Group’s dividend payout ratio (DPR) is presently 9.81%.

In other Meta Financial Group news, Director Douglas J. Hajek sold 440 shares of Meta Financial Group stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $90.31, for a total transaction of $39,736.40. Following the completion of the sale, the director now directly owns 2,867 shares of the company’s stock, valued at approximately $258,918.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman J Tyler Haahr sold 5,000 shares of Meta Financial Group stock in a transaction on Friday, May 5th. The shares were sold at an average price of $86.27, for a total value of $431,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,440 shares of company stock valued at $1,355,336. 6.06% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake in shares of Meta Financial Group by 1.4% in the first quarter. Wells Fargo & Company MN now owns 5,531 shares of the savings and loans company’s stock worth $490,000 after buying an additional 78 shares during the period. Navellier & Associates Inc raised its stake in shares of Meta Financial Group by 3.3% in the first quarter. Navellier & Associates Inc now owns 4,065 shares of the savings and loans company’s stock worth $360,000 after buying an additional 131 shares during the period. AQR Capital Management LLC raised its stake in shares of Meta Financial Group by 0.4% in the first quarter. AQR Capital Management LLC now owns 32,982 shares of the savings and loans company’s stock worth $2,919,000 after buying an additional 135 shares during the period. Teachers Advisors LLC raised its stake in shares of Meta Financial Group by 2.1% in the first quarter. Teachers Advisors LLC now owns 14,134 shares of the savings and loans company’s stock worth $1,251,000 after buying an additional 297 shares during the period. Finally, American International Group Inc. raised its stake in shares of Meta Financial Group by 7.1% in the first quarter. American International Group Inc. now owns 5,071 shares of the savings and loans company’s stock worth $449,000 after buying an additional 337 shares during the period. 73.81% 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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