Meta Financial Group Inc. (CASH) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Meta Financial Group Inc. (NASDAQ:CASH) from a sell rating to a buy rating in a research note published on Friday morning. Zacks Investment Research currently has $75.00 price objective on the 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. “
Separately, Keefe, Bruyette & Woods lifted their target price on Meta Financial Group from $67.00 to $79.00 and gave the stock an outperform rating in a report on Tuesday, October 4th.
Shares of Meta Financial Group (NASDAQ:CASH) traded up 1.33% during trading on Friday, hitting $67.65. The stock had a trading volume of 16,075 shares. The stock has a 50-day moving average of $61.41 and a 200 day moving average of $53.15. The firm has a market cap of $576.65 million, a price-to-earnings ratio of 17.35 and a beta of 0.51. Meta Financial Group has a 12-month low of $36.22 and a 12-month high of $67.83.
Meta Financial Group (NASDAQ:CASH) last issued its earnings results on Monday, July 25th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.18. Meta Financial Group had a return on equity of 11.22% and a net margin of 18.45%. On average, analysts predict that Meta Financial Group will post $3.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.52 annualized dividend and a dividend yield of 0.77%. Meta Financial Group’s dividend payout ratio (DPR) is presently 13.54%.
Several hedge funds have recently modified their holdings of CASH. California Public Employees Retirement System boosted its stake in shares of Meta Financial Group by 552.6% in the second quarter. California Public Employees Retirement System now owns 73,810 shares of the company’s stock valued at $3,761,000 after buying an additional 62,500 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Meta Financial Group during the second quarter valued at approximately $672,000. Swiss National Bank acquired a new stake in shares of Meta Financial Group during the second quarter valued at approximately $571,000. California State Teachers Retirement System boosted its stake in shares of Meta Financial Group by 7.7% in the second quarter. California State Teachers Retirement System now owns 17,264 shares of the company’s stock valued at $880,000 after buying an additional 1,238 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Meta Financial Group by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 33,697 shares of the company’s stock worth $1,717,000 after buying an additional 2,222 shares during the last quarter.
Meta Financial Group Company Profile
Meta Financial Group, Inc is a unitary savings and loan holding company. The Company operates through its banking subsidiary, MetaBank. 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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