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

Meta Financial Group, Inc. (NASDAQ:CASH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Several other research firms have also commented on CASH. FBR & Co lowered shares of 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 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 research report on Thursday, July 27th. BidaskClub raised shares of Meta Financial Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, ValuEngine upgraded shares of 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 stock. The stock presently has an average rating of “Hold” and a consensus target price of $104.33.

Shares of Meta Financial Group (CASH) opened at 78.90 on Wednesday. Meta Financial Group has a 1-year low of $59.52 and a 1-year high of $106.90. The company has a market capitalization of $737.64 million, a price-to-earnings ratio of 14.55 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.

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In other news, Director Frederick V. Moore sold 450 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $71.75, for a total transaction of $32,287.50. Following the transaction, the director now owns 100 shares in the company, valued at $7,175. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick V. Moore acquired 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, for a total transaction of $99,878.10. Following the acquisition, the director now owns 100 shares of the company’s stock, valued at $7,170. The disclosure for this purchase can be found here. In the last 90 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 bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Meta Financial Group during the second quarter valued at about $112,000. Victory Capital Management Inc. acquired a new position in shares of Meta Financial Group during the first quarter valued at about $122,000. Legal & General Group Plc increased 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 acquiring an additional 130 shares in the last quarter. Bank of America Corp DE increased 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 acquiring an additional 980 shares in the last quarter. Finally, 1st Global Advisors Inc. increased 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 acquiring an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 74.23% 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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