Meta Financial Group Inc. (CASH) Short Interest Down 34.8% in February

Meta Financial Group Inc. (NASDAQ:CASH) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 816,292 shares, a drop of 34.8% from the February 15th total of 1,251,577 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 413,307 shares, the days-to-cover ratio is currently 2.0 days.

NASDAQ CASH opened at $20.52 on Friday. Meta Financial Group has a 12 month low of $18.01 and a 12 month high of $39.20. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.12. The company has a market cap of $761.99 million, a P/E ratio of 7.30 and a beta of 1.30.

Meta Financial Group (NASDAQ:CASH) last posted its quarterly earnings results on Monday, January 28th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.04). The business had revenue of $98.02 million during the quarter, compared to analyst estimates of $98.55 million. Meta Financial Group had a return on equity of 11.61% and a net margin of 15.76%. Sell-side analysts predict that Meta Financial Group will post 2.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be given a $0.05 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.20 annualized dividend and a yield of 0.97%. Meta Financial Group’s dividend payout ratio (DPR) is 7.12%.

In related news, EVP Sheree Thornsberry sold 10,863 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.43, for a total transaction of $211,068.09. Following the transaction, the executive vice president now owns 20,090 shares in the company, valued at $390,348.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William David Tull sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $21.60, for a total transaction of $518,400.00. Following the transaction, the director now owns 71,025 shares in the company, valued at approximately $1,534,140. The disclosure for this sale can be found here. Insiders have sold 112,741 shares of company stock worth $2,381,260 in the last quarter. Company insiders own 7.69% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CASH. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Meta Financial Group by 200.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,139 shares of the savings and loans company’s stock worth $41,000 after buying an additional 1,426 shares during the last quarter. Flinton Capital Management LLC grew its position in Meta Financial Group by 314.3% in the fourth quarter. Flinton Capital Management LLC now owns 3,712 shares of the savings and loans company’s stock worth $72,000 after buying an additional 2,816 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Meta Financial Group in the fourth quarter worth approximately $84,000. Advisor Group Inc. grew its position in Meta Financial Group by 646.9% in the fourth quarter. Advisor Group Inc. now owns 6,588 shares of the savings and loans company’s stock worth $127,000 after buying an additional 5,706 shares during the last quarter. Finally, First Bank & Trust grew its position in Meta Financial Group by 200.0% in the fourth quarter. First Bank & Trust now owns 7,500 shares of the savings and loans company’s stock worth $145,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 64.97% of the company’s stock.

Separately, BidaskClub upgraded shares of Meta Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, January 25th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $36.75.

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About Meta Financial Group

Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services in the United States. The company accepts various deposit products, including statement savings accounts, money market savings accounts, negotiable order of withdrawal accounts, and checking accounts; and deposits related to prepaid cards, which primarily comprise checking accounts and certificate accounts.

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