Bank of America Corp DE grew its position in Meta Financial Group Inc. (NASDAQ:CASH) by 148.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 27,709 shares of the savings and loans company’s stock after acquiring an additional 16,542 shares during the period. Bank of America Corp DE’s holdings in Meta Financial Group were worth $2,699,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC acquired a new stake in shares of Meta Financial Group in the first quarter valued at $212,000. Stevens Capital Management LP acquired a new stake in shares of Meta Financial Group in the second quarter valued at $429,000. Schwab Charles Investment Management Inc. grew its stake in shares of Meta Financial Group by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 48,191 shares of the savings and loans company’s stock valued at $4,694,000 after buying an additional 2,530 shares in the last quarter. John W. Rosenthal Capital Management Inc. grew its stake in shares of Meta Financial Group by 28.6% in the second quarter. John W. Rosenthal Capital Management Inc. now owns 45,000 shares of the savings and loans company’s stock valued at $4,383,000 after buying an additional 10,000 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Meta Financial Group by 99.5% in the second quarter. SG Americas Securities LLC now owns 2,639 shares of the savings and loans company’s stock valued at $257,000 after buying an additional 1,316 shares in the last quarter. 61.11% of the stock is owned by institutional investors and hedge funds.
CASH has been the subject of several analyst reports. Sandler O’Neill set a $40.00 target price on Meta Financial Group and gave the stock a “buy” rating in a research note on Monday, August 6th. Zacks Investment Research raised Meta Financial Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 26th. B. Riley cut Meta Financial Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $44.00 to $33.33 in a research note on Friday, July 27th. BidaskClub raised Meta Financial Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 5th. Finally, ValuEngine cut Meta Financial Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $38.11.
CASH opened at $25.41 on Wednesday. Meta Financial Group Inc. has a 12 month low of $21.55 and a 12 month high of $39.33. The firm has a market cap of $979.82 million, a P/E ratio of 9.04 and a beta of 1.09. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.12.
Meta Financial Group (NASDAQ:CASH) last released its earnings results on Wednesday, October 31st. The savings and loans company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Meta Financial Group had a return on equity of 12.10% and a net margin of 15.05%. The firm had revenue of $73.15 million during the quarter, compared to analysts’ expectations of $82.46 million. As a group, research analysts forecast that Meta Financial Group Inc. will post 2.52 EPS for the current fiscal year.
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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 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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