Meta Financial Group, Inc. (CASH) Stake Lessened by Federated Investors Inc. PA
Federated Investors Inc. PA cut its stake in shares of Meta Financial Group, Inc. (NASDAQ:CASH) by 20.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,341 shares of the savings and loans company’s stock after selling 7,367 shares during the period. Federated Investors Inc. PA owned approximately 0.31% of Meta Financial Group worth $2,611,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Second Curve Capital LLC raised its position in Meta Financial Group by 49.2% during the first quarter. Second Curve Capital LLC now owns 424,732 shares of the savings and loans company’s stock valued at $37,589,000 after buying an additional 140,000 shares during the period. Stifel Financial Corp grew its stake in Meta Financial Group by 2,444.8% in the first quarter. Stifel Financial Corp now owns 109,909 shares of the savings and loans company’s stock valued at $9,762,000 after purchasing an additional 105,590 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Meta Financial Group by 72.8% in the first quarter. Thrivent Financial For Lutherans now owns 238,690 shares of the savings and loans company’s stock valued at $21,124,000 after purchasing an additional 100,580 shares in the last quarter. Northpointe Capital LLC purchased a new position in Meta Financial Group in the second quarter valued at about $6,380,000. Finally, Elk Creek Partners LLC purchased a new position in Meta Financial Group in the first quarter valued at about $5,743,000. 74.23% of the stock is currently owned by institutional investors.
A number of brokerages have commented on CASH. ValuEngine downgraded Meta Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. BidaskClub cut Meta Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. FBR & Co set a $130.00 price objective on Meta Financial Group and gave the stock a “buy” rating in a research report on Thursday, June 1st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $121.00 price objective on shares of Meta Financial Group in a research report on Monday, June 26th. Finally, Zacks Investment Research cut Meta Financial Group from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $104.33.
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In other news, Director Douglas J. Hajek sold 440 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $90.31, for a total transaction of $39,736.40. Following the completion of the transaction, the director now directly owns 2,867 shares of the company’s stock, valued at $258,918.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman J Tyler Haahr sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $73.07, for a total transaction of $365,350.00. The disclosure for this sale can be found here. Insiders sold 10,440 shares of company stock valued at $849,886 over the last ninety days. Corporate insiders own 6.06% of the company’s stock.
Meta Financial Group, Inc. (CASH) opened at 66.25 on Thursday. The company has a market capitalization of $619.37 million, a price-to-earnings ratio of 12.21 and a beta of 0.88. The firm has a 50-day moving average price of $74.89 and a 200-day moving average price of $84.28. Meta Financial Group, Inc. has a 12 month low of $59.52 and a 12 month high of $106.90.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.13 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.52 annualized dividend and a yield of 0.78%. Meta Financial Group’s dividend payout ratio (DPR) is presently 9.81%.
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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