BidaskClub Upgrades Meta Financial Group, Inc. (CASH) to “Buy”
Meta Financial Group, Inc. (NASDAQ:CASH) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Meta Financial Group from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a report on Tuesday, June 27th. ValuEngine cut Meta Financial Group from a “strong-buy” rating to a “buy” rating in a report on Friday, May 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $121.00 price target on shares of Meta Financial Group in a report on Wednesday, April 5th. Finally, FBR & Co set a $130.00 price target on Meta Financial Group and gave the company a “buy” rating in a report on Thursday, June 1st. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Meta Financial Group currently has a consensus rating of “Buy” and an average target price of $116.00.
Shares of Meta Financial Group (NASDAQ CASH) traded up 0.62% on Thursday, reaching $89.15. The company had a trading volume of 26,386 shares. Meta Financial Group has a 12 month low of $48.97 and a 12 month high of $106.90. The firm has a market capitalization of $833.46 million, a PE ratio of 16.39 and a beta of 0.93. The company’s 50-day moving average is $87.11 and its 200 day moving average is $91.04.
Meta Financial Group (NASDAQ:CASH) last issued its 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 16.92% and a net margin of 19.51%. The business had revenue of $116.14 million during the quarter, compared to analysts’ expectations of $118.38 million. Equities analysts forecast that Meta Financial Group will post $5.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Wednesday, June 7th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, June 5th. This represents a $0.52 dividend on an annualized basis and a yield of 0.58%. Meta Financial Group’s dividend payout ratio is 9.81%.
In related news, Chairman J Tyler Haahr sold 5,000 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $86.27, for a total transaction of $431,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas J. Hajek sold 440 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $90.31, for a total value of $39,736.40. Following the sale, the director now directly owns 2,867 shares of the company’s stock, valued at $258,918.77. The disclosure for this sale can be found here. Insiders have sold a total of 15,440 shares of company stock valued at $1,355,336 over the last ninety days. Insiders own 6.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CASH. Ladenburg Thalmann Financial Services Inc. purchased a new position in shares of Meta Financial Group during the fourth quarter worth approximately $103,000. Victory Capital Management Inc. purchased a new position in shares of Meta Financial Group during the first quarter worth approximately $122,000. Bank of America Corp DE raised its position in shares of Meta Financial Group by 86.6% in the first quarter. Bank of America Corp DE now owns 2,112 shares of the savings and loans company’s stock worth $187,000 after buying an additional 980 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Meta Financial Group during the first quarter worth approximately $325,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Meta Financial Group during the fourth quarter worth approximately $336,000. Hedge funds and other institutional investors own 73.82% of the company’s stock.
About Meta Financial Group
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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