Meta Financial Group (CASH) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Meta Financial Group (NASDAQ:CASH) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

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. “

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Several other research firms have also recently weighed in on CASH. B. Riley upped their price objective on Meta Financial Group from $100.00 to $120.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Lake Street Capital initiated coverage on Meta Financial Group in a research report on Monday, January 8th. They set a buy rating and a $120.00 price objective for the company. BidaskClub cut Meta Financial Group from a buy rating to a hold rating in a research report on Wednesday, December 27th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $125.00 price objective on shares of Meta Financial Group in a research report on Thursday, January 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $118.80.

Meta Financial Group (NASDAQ:CASH) opened at $107.05 on Friday. Meta Financial Group has a 52 week low of $60.70 and a 52 week high of $117.97. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1,036.66, a PE ratio of 14.68 and a beta of 1.19.

Meta Financial Group (NASDAQ:CASH) last posted its earnings results on Tuesday, January 30th. The savings and loans company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.25. Meta Financial Group had a return on equity of 16.05% and a net margin of 16.20%. The firm had revenue of $58.46 million during the quarter, compared to analysts’ expectations of $54.47 million. equities research analysts predict that Meta Financial Group will post 7.69 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, March 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.49%. Meta Financial Group’s dividend payout ratio is currently 10.14%.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Meta Financial Group by 4.8% during the fourth quarter. BlackRock Inc. now owns 1,203,567 shares of the savings and loans company’s stock worth $111,512,000 after buying an additional 55,091 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Meta Financial Group by 7.2% during the third quarter. Dimensional Fund Advisors LP now owns 467,964 shares of the savings and loans company’s stock worth $36,689,000 after buying an additional 31,433 shares during the period. Second Curve Capital LLC boosted its position in shares of Meta Financial Group by 37.4% during the third quarter. Second Curve Capital LLC now owns 424,132 shares of the savings and loans company’s stock worth $33,252,000 after buying an additional 115,400 shares during the period. Patriot Financial Partners GP LP boosted its position in Meta Financial Group by 14.4% during the third quarter. Patriot Financial Partners GP LP now owns 397,069 shares of the savings and loans company’s stock valued at $31,130,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Ashford Capital Management Inc. boosted its position in Meta Financial Group by 15.8% during the fourth quarter. Ashford Capital Management Inc. now owns 341,617 shares of the savings and loans company’s stock valued at $31,651,000 after purchasing an additional 46,502 shares during the last quarter. 78.95% of the stock is owned by institutional investors.

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Meta Financial Group Company Profile

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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