Zacks Investment Research downgraded shares of Meta Financial Group (NASDAQ:CASH) from a buy rating to a hold rating in a research report sent to investors on Tuesday, March 13th.
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 analysts have also weighed in on the company. BidaskClub upgraded Meta Financial Group from a sell rating to a hold rating in a report on Saturday, March 3rd. B. Riley upped their price target on Meta Financial Group from $120.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $125.00 price target on shares of Meta Financial Group in a research report on Thursday, January 11th. Finally, Lake Street Capital began coverage on Meta Financial Group in a research report on Monday, January 8th. They set a buy rating and a $120.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $118.80.
Shares of Meta Financial Group stock opened at $113.60 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1,104.44, a price-to-earnings ratio of 15.65 and a beta of 1.19. Meta Financial Group has a twelve month low of $60.70 and a twelve month high of $117.97.
Meta Financial Group (NASDAQ:CASH) last posted its earnings results on Tuesday, January 30th. The savings and loans company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.25. The company had revenue of $58.46 million during the quarter, compared to analyst estimates of $54.47 million. Meta Financial Group had a return on equity of 16.05% and a net margin of 16.20%. equities analysts forecast that Meta Financial Group will post 7.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, March 9th. Meta Financial Group’s payout ratio is presently 10.14%.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Meta Financial Group by 4.8% during the fourth quarter. BlackRock Inc. now owns 1,203,567 shares of the savings and loans company’s stock worth $111,512,000 after purchasing an additional 55,091 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Meta Financial Group by 7.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 467,964 shares of the savings and loans company’s stock valued at $36,689,000 after acquiring an additional 31,433 shares during the period. Second Curve Capital LLC increased its position in shares of Meta Financial Group by 37.4% in the 3rd quarter. Second Curve Capital LLC now owns 424,132 shares of the savings and loans company’s stock valued at $33,252,000 after acquiring an additional 115,400 shares during the period. Patriot Financial Partners GP LP increased its position in shares of Meta Financial Group by 14.4% in the 3rd quarter. Patriot Financial Partners GP LP now owns 397,069 shares of the savings and loans company’s stock valued at $31,130,000 after acquiring an additional 50,000 shares during the period. Finally, Ashford Capital Management Inc. increased its position in shares of Meta Financial Group by 15.8% in the 4th quarter. Ashford Capital Management Inc. now owns 341,617 shares of the savings and loans company’s stock valued at $31,651,000 after acquiring an additional 46,502 shares during the period. 78.95% of the stock is currently owned by institutional investors and hedge funds.
Meta Financial Group Company Profile
Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services to individuals, small businesses, financial institutions, and other businesses. It provides various deposit products, such as statement savings accounts, money market savings accounts, and NOW and regular checking accounts, as well as deposits related to prepaid cards, which primarily include checking accounts and certificate accounts.
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