Meta Financial Group Inc. (NASDAQ:CASH) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Friday. The brokerage presently has a $75.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.08% from the stock’s current price.
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 increased their price objective on Meta Financial Group from $67.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, October 4th.
Shares of Meta Financial Group (NASDAQ:CASH) opened at 67.52 on Friday. The company’s 50 day moving average price is $61.71 and its 200 day moving average price is $53.45. The firm has a market capitalization of $575.54 million, a price-to-earnings ratio of 17.32 and a beta of 0.51. Meta Financial Group has a 52-week low of $36.22 and a 52-week 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 for the quarter, topping the 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%. Analysts forecast that Meta Financial Group will post $3.98 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Thursday, September 1st. Meta Financial Group’s dividend payout ratio is 13.54%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pinkerton Retirement Specialists LLC bought a new position in shares of Meta Financial Group during the second quarter worth approximately $10,354,000. Credit Agricole S A acquired a new stake in Meta Financial Group during the first quarter worth about $4,332,000. JPMorgan Chase & Co. raised its stake in Meta Financial Group by 159.2% in the first quarter. JPMorgan Chase & Co. now owns 136,600 shares of the company’s stock worth $6,229,000 after buying an additional 83,900 shares during the period. California Public Employees Retirement System raised its stake in 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 worth $3,761,000 after buying an additional 62,500 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Meta Financial Group by 57.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 155,956 shares of the company’s stock worth $7,948,000 after buying an additional 56,597 shares during the period.
About Meta Financial Group
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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