Zacks Investment Research upgraded shares of Meta Financial Group (NASDAQ:CASH) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $129.00 price target on the savings and loans company’s stock.
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. “
CASH has been the subject of a number of other research reports. BidaskClub raised shares of Meta Financial Group from a hold rating to a buy rating in a research report on Wednesday, December 20th. B. Riley increased their target price on shares of Meta Financial Group from $100.00 to $120.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Lake Street Capital began coverage on shares of Meta Financial Group in a research report on Monday, January 8th. They set a buy rating and a $120.00 target price for the company. Finally, Keefe, Bruyette & Woods reissued a buy rating and set a $125.00 target price on shares of Meta Financial Group in a research report on Thursday, January 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Meta Financial Group presently has a consensus rating of Buy and an average target price of $118.80.
Meta Financial Group (NASDAQ:CASH) opened at $110.60 on Tuesday. Meta Financial Group has a 52 week low of $60.70 and a 52 week high of $117.97. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1,100.08, a P/E ratio of 15.58 and a beta of 1.19.
Meta Financial Group (NASDAQ:CASH) last released its quarterly earnings data on Tuesday, January 30th. The savings and loans company reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.25. Meta Financial Group had a return on equity of 16.05% and a net margin of 16.20%. The company had revenue of $58.46 million during the quarter, compared to the consensus estimate of $54.47 million. analysts expect that Meta Financial Group will post 7.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders 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 yield of 0.47%. The ex-dividend date of this dividend is Friday, March 9th. Meta Financial Group’s dividend payout ratio is presently 10.14%.
A number of large investors have recently added to or reduced their stakes in CASH. Parametric Portfolio Associates LLC acquired a new stake in Meta Financial Group during the 2nd quarter valued at approximately $258,000. State Street Corp increased its position in Meta Financial Group by 0.7% during the 2nd quarter. State Street Corp now owns 155,087 shares of the savings and loans company’s stock valued at $13,805,000 after purchasing an additional 1,083 shares during the period. The Manufacturers Life Insurance Company increased its position in Meta Financial Group by 10.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,920 shares of the savings and loans company’s stock valued at $617,000 after purchasing an additional 677 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Meta Financial Group during the 3rd quarter valued at approximately $339,000. Finally, State of Tennessee Treasury Department acquired a new stake in shares of Meta Financial Group during the 3rd quarter worth approximately $606,000. 78.95% of the stock is 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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