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 research note issued to investors on Friday. The brokerage currently has a $75.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.34% from the stock’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 raised their price target on Meta Financial Group from $67.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday.
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Shares of Meta Financial Group (NASDAQ:CASH) traded up 0.30% during trading on Friday, hitting $66.76. The company had a trading volume of 101,362 shares. Meta Financial Group has a 52 week low of $36.22 and a 52 week high of $67.00. The company has a market capitalization of $569.06 million, a P/E ratio of 17.12 and a beta of 0.51. The stock’s 50-day moving average price is $61.14 and its 200 day moving average price is $52.98.
Meta Financial Group (NASDAQ:CASH) last released its quarterly earnings results on Monday, July 25th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.18. Meta Financial Group had a return on equity of 11.22% and a net margin of 18.45%. On average, equities research analysts forecast that Meta Financial Group will post $3.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, September 1st. Meta Financial Group’s dividend payout ratio (DPR) is 13.54%.
Institutional investors have recently made changes to their positions in the company. Patriot Financial Partners GP LP boosted its position in shares of Meta Financial Group by 8.7% in the second quarter. Patriot Financial Partners GP LP now owns 307,069 shares of the company’s stock worth $15,648,000 after buying an additional 24,500 shares during the period. Systematic Financial Management LP bought a new position in shares of Meta Financial Group during the second quarter worth approximately $1,318,000. Sippican Capital Advisors bought a new position in shares of Meta Financial Group during the second quarter worth approximately $281,000. California Public Employees Retirement System boosted its position in shares of Meta Financial Group by 552.6% in the second quarter. California Public Employees Retirement System now owns 73,810 shares of the company’s stock worth $3,761,000 after buying an additional 62,500 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Meta Financial Group by 159.2% in the first quarter. JPMorgan Chase & Co. now owns 136,600 shares of the company’s stock worth $6,229,000 after buying an additional 83,900 shares during the period.
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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