Meta Financial Group (CASH) Upgraded to “Strong-Buy” by Zacks Investment Research

Meta Financial Group (NASDAQ:CASH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The firm currently has a $118.00 price target on the savings and loans company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.54% 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. “

A number of other brokerages have also issued reports on CASH. BidaskClub lowered shares of Meta Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. B. Riley raised shares of Meta Financial Group from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $125.00 price objective on shares of Meta Financial Group in a research note on Thursday, January 11th. FBR & Co raised shares of Meta Financial Group from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Tuesday, October 31st. Finally, Lake Street Capital assumed coverage on shares of Meta Financial Group in a research note on Monday, January 8th. They set a “buy” rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.60.

Meta Financial Group (NASDAQ CASH) traded up $1.95 during trading on Friday, hitting $104.85. 55,402 shares of the stock traded hands, compared to its average volume of 80,269. The company has a market capitalization of $1,010.00, a price-to-earnings ratio of 21.84 and a beta of 0.90. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.20. Meta Financial Group has a fifty-two week low of $60.70 and a fifty-two week high of $105.50.

Meta Financial Group (NASDAQ:CASH) last announced its earnings results on Monday, October 30th. The savings and loans company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $1.38. Meta Financial Group had a net margin of 16.03% and a return on equity of 15.91%. research analysts expect that Meta Financial Group will post 7.03 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. 1st Global Advisors Inc. lifted its position in shares of 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 worth $219,000 after purchasing an additional 32 shares in the last quarter. Legal & General Group Plc lifted its position in shares of 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 worth $186,000 after purchasing an additional 130 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Meta Financial Group by 8.2% in the second quarter. Voya Investment Management LLC now owns 4,699 shares of the savings and loans company’s stock worth $418,000 after purchasing an additional 356 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Meta Financial Group by 31.3% in the second quarter. Victory Capital Management Inc. now owns 1,806 shares of the savings and loans company’s stock worth $161,000 after purchasing an additional 430 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Meta Financial Group by 15.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 4,628 shares of the savings and loans company’s stock worth $412,000 after purchasing an additional 620 shares in the last quarter. 76.73% of the stock is owned by institutional investors.

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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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