61,718 Shares in Meta Financial Group Inc. (NASDAQ:CASH) Acquired by Private Advisors LLC
Private Advisors LLC bought a new position in shares of Meta Financial Group Inc. (NASDAQ:CASH) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 61,718 shares of the savings and loans company’s stock, valued at approximately $1,215,000. Meta Financial Group accounts for about 1.1% of Private Advisors LLC’s investment portfolio, making the stock its 29th largest position.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CASH. BlackRock Inc. grew its stake in 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 acquiring an additional 2,772,050 shares during the period. Nantahala Capital Management LLC grew its stake in Meta Financial Group by 230.7% in the fourth quarter. Nantahala Capital Management LLC now owns 1,784,227 shares of the savings and loans company’s stock valued at $34,596,000 after acquiring an additional 1,244,711 shares during the period. Dimensional Fund Advisors LP grew its stake in Meta Financial Group by 195.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,530,076 shares of the savings and loans company’s stock valued at $29,668,000 after acquiring an additional 1,012,492 shares during the period. Cranbrook Wealth Management LLC grew its stake in Meta Financial Group by 1,014.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 1,525,462 shares of the savings and loans company’s stock valued at $29,579,000 after acquiring an additional 1,388,521 shares during the period. Finally, Patriot Financial Partners GP LP grew its stake in Meta Financial Group by 200.0% in the fourth quarter. Patriot Financial Partners GP LP now owns 1,356,207 shares of the savings and loans company’s stock valued at $26,297,000 after acquiring an additional 904,138 shares during the period. 69.87% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on CASH. Zacks Investment Research raised Meta Financial Group from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, June 4th. BidaskClub raised Meta Financial Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 8th. Finally, B. Riley raised Meta Financial Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $25.00 to $33.00 in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.75.
Meta Financial Group (NASDAQ:CASH) last announced its earnings results on Thursday, April 25th. The savings and loans company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.15. The company had revenue of $176.38 million for 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, equities research analysts expect that Meta Financial Group Inc. will post 2.5 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. Meta Financial Group’s payout ratio is 7.12%.
In related news, Director Michael Robert Kramer sold 4,408 shares of Meta Financial Group stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $26.00, for a total transaction of $114,608.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William David Tull sold 22,200 shares of Meta Financial Group stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $25.82, for a total value of $573,204.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,444 shares of company stock worth $4,787,567. 7.69% of the stock is owned by insiders.
Meta Financial Group Profile
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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