Zacks Investment Research Lowers Meta Financial Group (NASDAQ:CASH) to Hold

Zacks Investment Research cut shares of Meta Financial Group (NASDAQ:CASH) from a buy rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

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 equities research analysts have also recently weighed in on the company. BidaskClub raised Zebra Technologies from a hold rating to a buy rating in a research note on Saturday, July 6th. B. Riley reaffirmed a buy rating on shares of Skechers USA in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Meta Financial Group presently has an average rating of Hold and a consensus price target of $35.00.

CASH stock opened at $26.71 on Monday. The stock’s fifty day simple moving average is $27.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.70 and a current ratio of 0.71. The firm has a market capitalization of $1.06 billion, a PE ratio of 9.51 and a beta of 1.29. Meta Financial Group has a 52-week low of $17.84 and a 52-week high of $33.33.

Meta Financial Group (NASDAQ:CASH) last posted its earnings results on Thursday, April 25th. The savings and loans company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $176.38 million during the quarter, compared to analysts’ expectations of $173.63 million. Meta Financial Group had a return on equity of 10.46% and a net margin of 13.76%. As a group, analysts predict that Meta Financial Group will post 2.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. Meta Financial Group’s payout ratio is presently 7.12%.

In other news, Director William David Tull sold 22,200 shares of Meta Financial Group stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $25.82, for a total value of $573,204.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Robert Kramer sold 4,408 shares of Meta Financial Group stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $26.00, for a total value of $114,608.00. The disclosure for this sale can be found here. Insiders sold 258,556 shares of company stock valued at $6,986,483 over the last ninety days. Insiders own 7.69% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Meta Financial Group by 205.5% in the fourth quarter. BlackRock Inc. now owns 4,121,189 shares of the savings and loans company’s stock valued at $79,911,000 after buying an additional 2,772,050 shares in the last quarter. Nantahala Capital Management LLC grew its stake in Meta Financial Group by 230.7% during the 4th quarter. Nantahala Capital Management LLC now owns 1,784,227 shares of the savings and loans company’s stock worth $34,596,000 after purchasing an additional 1,244,711 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Meta Financial Group by 195.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,530,076 shares of the savings and loans company’s stock worth $29,668,000 after purchasing an additional 1,012,492 shares in the last quarter. Ashford Capital Management Inc. grew its stake in Meta Financial Group by 188.8% during the 4th quarter. Ashford Capital Management Inc. now owns 932,157 shares of the savings and loans company’s stock worth $18,075,000 after purchasing an additional 609,423 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC grew its stake in Meta Financial Group by 401.9% during the 4th quarter. Philadelphia Financial Management of San Francisco LLC now owns 452,749 shares of the savings and loans company’s stock worth $8,779,000 after purchasing an additional 362,550 shares in the last quarter. 70.10% of the stock is owned by institutional investors and hedge funds.

About Meta Financial Group

Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services in the United States. The company accepts various deposit products, including statement savings accounts, money market savings accounts, negotiable order of withdrawal accounts, and checking accounts; and deposits related to prepaid cards, which primarily comprise checking accounts and certificate accounts.

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