Meta Financial Group Inc. (CASH) Upgraded by Zacks Investment Research to “Buy”
Meta Financial Group Inc. (NASDAQ:CASH) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $75.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 12.34% from the company’s previous close.
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. “
Separately, Keefe, Bruyette & Woods upped their price target on shares of Meta Financial Group from $67.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday.
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Shares of Meta Financial Group (NASDAQ:CASH) traded up 0.30% during mid-day trading on Friday, reaching $66.76. 101,362 shares of the company’s stock were exchanged. Meta Financial Group has a 52-week low of $36.22 and a 52-week high of $67.00. The firm has a market cap of $569.06 million, a P/E ratio of 17.12 and a beta of 0.51. The company has a 50 day moving average price of $61.14 and a 200 day moving average price of $52.98.
Meta Financial Group (NASDAQ:CASH) last released its earnings results on Monday, July 25th. The company reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.18. Meta Financial Group had a net margin of 18.45% and a return on equity of 11.22%. Analysts forecast that Meta Financial Group will post $3.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, September 1st. Meta Financial Group’s payout ratio is currently 13.54%.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Group LTD acquired a new stake in shares of Meta Financial Group during the second quarter worth approximately $129,000. BlackRock Inc. raised its stake in Meta Financial Group by 1,171.0% in the second quarter. BlackRock Inc. now owns 3,063 shares of the company’s stock worth $156,000 after buying an additional 2,822 shares during the period. BlackRock Advisors LLC raised its stake in Meta Financial Group by 65.1% in the second quarter. BlackRock Advisors LLC now owns 3,866 shares of the company’s stock worth $197,000 after buying an additional 1,524 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Meta Financial Group during the second quarter worth $222,000. Finally, TFS Capital LLC purchased a new stake in Meta Financial Group during the second quarter worth $240,000.
About Meta Financial Group
Meta Financial Group, Inc is a unitary savings and loan holding company. The Company operates through its banking subsidiary, MetaBank. 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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