Meta Financial Group, Inc. (CASH) Expected to Post Earnings of -$0.29 Per Share
Wall Street brokerages expect Meta Financial Group, Inc. (NASDAQ:CASH) to post earnings of ($0.29) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Meta Financial Group’s earnings, with the lowest EPS estimate coming in at ($0.33) and the highest estimate coming in at ($0.25). Meta Financial Group reported earnings of $1.03 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 128.2%. The firm is scheduled to report its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Meta Financial Group will report full year earnings of $4.34 per share for the current year, with EPS estimates ranging from $4.27 to $4.40. For the next financial year, analysts anticipate that the business will report earnings of $7.03 per share, with EPS estimates ranging from $6.85 to $7.20. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Meta Financial Group.
CASH has been the topic of a number of recent analyst reports. ValuEngine upgraded Meta Financial Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub downgraded Meta Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $121.00 price objective on shares of Meta Financial Group in a research report on Thursday, July 27th. FBR & Co set a $130.00 price objective on Meta Financial Group and gave the stock a “buy” rating in a research report on Thursday, June 1st. Finally, Zacks Investment Research downgraded Meta Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $104.33.
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In related news, Director Douglas J. Hajek sold 440 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $90.31, for a total value of $39,736.40. Following the transaction, the director now owns 2,867 shares of the company’s stock, valued at $258,918.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman J Tyler Haahr sold 5,000 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $88.96, for a total value of $444,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,440 shares of company stock worth $849,886. 6.06% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Meta Financial Group in the second quarter valued at $112,000. Victory Capital Management Inc. bought a new position in Meta Financial Group in the first quarter valued at $122,000. Legal & General Group Plc increased its stake in Meta Financial Group by 6.6% in 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 during the last quarter. Bank of America Corp DE increased its stake in 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 valued at $187,000 after acquiring an additional 980 shares during the last quarter. Finally, 1st Global Advisors Inc. increased its stake in Meta Financial Group by 1.3% in 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 during the last quarter. 74.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of Meta Financial Group (CASH) traded up 3.25% during trading on Friday, hitting $66.70. The stock had a trading volume of 71,355 shares. The firm’s 50 day moving average is $73.41 and its 200 day moving average is $84.01. Meta Financial Group has a 1-year low of $59.52 and a 1-year high of $106.90. The company has a market cap of $623.58 million, a PE ratio of 12.30 and a beta of 0.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a $0.13 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.78%. Meta Financial Group’s dividend payout ratio (DPR) is presently 9.81%.
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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