Meta Financial Group Inc. (CASH) Downgraded by FBR & Co to “Market Perform”
FBR & Co lowered shares of Meta Financial Group Inc. (NASDAQ:CASH) from an outperform rating to a market perform rating in a report published on Friday morning, MarketBeat Ratings reports. FBR & Co currently has $95.00 target price on the savings and loans company’s stock. FBR & Co also issued estimates for Meta Financial Group’s Q3 2018 earnings at $1.39 EPS and Q4 2018 earnings at $1.08 EPS.
A number of other analysts also recently issued reports on CASH. ValuEngine raised shares of Meta Financial Group from a buy rating to a strong-buy rating in a report on Friday, June 2nd. BidaskClub raised shares of Meta Financial Group from a hold rating to a buy rating in a report on Thursday, July 6th. Keefe, Bruyette & Woods reissued a buy rating and issued a $121.00 price objective on shares of Meta Financial Group in a report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Meta Financial Group from a hold rating to a buy rating and set a $97.00 price objective for the company in a report on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Meta Financial Group has an average rating of Buy and an average price target of $104.33.
Meta Financial Group (CASH) opened at 71.30 on Friday. The company has a market cap of $666.58 million, a PE ratio of 13.15 and a beta of 0.93. The firm’s 50-day moving average is $89.04 and its 200-day moving average is $88.96. Meta Financial Group has a 52 week low of $54.13 and a 52 week high of $106.90.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Wednesday, June 7th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.73%. The ex-dividend date was Monday, June 5th. Meta Financial Group’s payout ratio is 9.81%.
In related news, Chairman J Tyler Haahr sold 5,000 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $86.27, for a total value of $431,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth G. Hoople acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average cost of $83.63 per share, with a total value of $83,630.00. Following the purchase, the director now owns 4,000 shares in the company, valued at $334,520. The disclosure for this purchase can be found here. In the last three months, insiders sold 15,440 shares of company stock valued at $1,355,336. 6.06% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new position in shares of Meta Financial Group during the first quarter valued at approximately $122,000. Bank of America Corp DE increased its position in shares of Meta Financial Group by 86.6% in the first quarter. Bank of America Corp DE now owns 2,112 shares of the savings and loans company’s stock valued at $187,000 after buying an additional 980 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Meta Financial Group during the second quarter valued at approximately $231,000. Tudor Investment Corp ET AL bought a new position in shares of Meta Financial Group during the first quarter valued at approximately $325,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Meta Financial Group during the fourth quarter valued at approximately $336,000. 74.16% 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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