Meta Financial Group, Inc. (NASDAQ:CASH) Receives Consensus Recommendation of “Buy” from Analysts

Meta Financial Group, Inc. (NASDAQ:CASH) has received a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $56.40.

A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Meta Financial Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Friday, July 30th. Piper Sandler raised their price target on shares of Meta Financial Group from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Finally, B. Riley raised their price target on shares of Meta Financial Group from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, September 8th.

Meta Financial Group stock traded down $1.31 during mid-day trading on Tuesday, reaching $50.34. 188,200 shares of the company traded hands, compared to its average volume of 196,618. The firm’s fifty day moving average is $49.30 and its two-hundred day moving average is $48.89. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 11.97 and a beta of 0.92. Meta Financial Group has a fifty-two week low of $18.13 and a fifty-two week high of $54.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.68.

Meta Financial Group (NASDAQ:CASH) last posted its quarterly earnings results on Wednesday, July 28th. The savings and loans company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.32. Meta Financial Group had a net margin of 25.19% and a return on equity of 16.26%. As a group, equities research analysts predict that Meta Financial Group will post 4.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Thursday, September 9th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. Meta Financial Group’s dividend payout ratio (DPR) is presently 8.23%.

Institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in Meta Financial Group by 80.4% during the second quarter. FMR LLC now owns 2,438,895 shares of the savings and loans company’s stock valued at $123,482,000 after buying an additional 1,086,884 shares during the period. Vanguard Group Inc. grew its position in Meta Financial Group by 1.6% during the second quarter. Vanguard Group Inc. now owns 2,079,713 shares of the savings and loans company’s stock valued at $105,296,000 after buying an additional 33,087 shares during the period. Nantahala Capital Management LLC grew its position in Meta Financial Group by 8.7% during the second quarter. Nantahala Capital Management LLC now owns 1,073,936 shares of the savings and loans company’s stock valued at $54,373,000 after buying an additional 86,152 shares during the period. State Street Corp grew its position in Meta Financial Group by 2.9% during the second quarter. State Street Corp now owns 1,026,753 shares of the savings and loans company’s stock valued at $52,037,000 after buying an additional 28,912 shares during the period. Finally, Geode Capital Management LLC grew its position in Meta Financial Group by 3.1% during the second quarter. Geode Capital Management LLC now owns 576,733 shares of the savings and loans company’s stock valued at $29,199,000 after buying an additional 17,177 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

About Meta Financial Group

Meta Financial Group, Inc operates as a financial holding company, which provides savings and loan services. The firm operates through the following business segments: Consumer, Commercial, and Corporate Services & Other. The Consumer segment provides meta payment systems (MPS), consumer credit products, warehouse finance and other tax services.

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