Zacks Investment Research cut shares of Meta Financial Group, Inc. (NASDAQ:CASH) from a strong-buy rating to a hold rating in a research report report published on Tuesday.

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, FBR & Co reissued a buy rating on shares of Meta Financial Group in a report on Wednesday, February 1st.

Shares of Meta Financial Group (NASDAQ:CASH) opened at 84.00 on Tuesday. The company has a market capitalization of $784.98 million, a PE ratio of 23.82 and a beta of 0.98. Meta Financial Group has a 1-year low of $39.30 and a 1-year high of $106.90. The company has a 50 day moving average price of $98.24 and a 200 day moving average price of $79.34.

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In other Meta Financial Group news, President Bradley C. Hanson sold 12,664 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $101.05, for a total transaction of $1,279,697.20. Following the completion of the transaction, the president now owns 141,058 shares of the company’s stock, valued at approximately $14,253,910.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman J Tyler Haahr sold 5,000 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $103.60, for a total transaction of $518,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,664 shares of company stock valued at $2,278,797 in the last three months. Insiders own 6.06% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASH. Ladenburg Thalmann Financial Services Inc. bought a new position in Meta Financial Group during the fourth quarter valued at approximately $103,000. Wells Fargo & Company MN increased its position in Meta Financial Group by 25.4% in the third quarter. Wells Fargo & Company MN now owns 2,895 shares of the company’s stock valued at $175,000 after buying an additional 586 shares during the period. Stevens Capital Management LP bought a new position in Meta Financial Group during the third quarter valued at approximately $201,000. Boothbay Fund Management LLC bought a new position in Meta Financial Group during the fourth quarter valued at approximately $302,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Meta Financial Group by 27.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 6,264 shares of the company’s stock valued at $319,000 after buying an additional 1,357 shares during the period. 69.59% of the stock is owned by institutional investors and hedge funds.

About Meta Financial Group

Meta Financial Group, Inc is a unitary savings and loan holding company. The Company operates through its banking subsidiary, MetaBank (the Bank). Its segments include Payments, Banking, and Corporate Services/Other. 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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