Meta Financial Group, Inc. (CASH) Lifted to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Meta Financial Group, Inc. (NASDAQ:CASH) from a hold rating to a strong-buy rating in a research note published on Wednesday morning. They currently have $100.00 price objective on the savings and loans company’s stock.
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. “
A number of other research firms have also recently commented on CASH. FBR & Co cut Meta Financial Group from an outperform rating to a market perform rating and set a $95.00 price objective for the company. in a research report on Friday, July 28th. BidaskClub upgraded Meta Financial Group from a hold rating to a buy rating in a research report on Thursday, July 6th. B. Riley upgraded Meta Financial Group from a neutral rating to a buy rating and set a $95.00 price target for the company in a research report on Wednesday. ValuEngine cut Meta Financial Group from a strong-buy rating to a buy rating in a research report on Thursday, August 24th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $121.00 price target on shares of Meta Financial Group in a research report on Thursday, July 27th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Meta Financial Group has a consensus rating of Buy and a consensus target price of $94.50.
Shares of Meta Financial Group (CASH) opened at $86.85 on Wednesday. The stock has a market cap of $833.80 million, a P/E ratio of 12.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.55 and a quick ratio of 0.37.
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In other news, Director Frederick V. Moore purchased 1,393 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was purchased at an average cost of $71.70 per share, for a total transaction of $99,878.10. Following the completion of the transaction, the director now owns 100 shares of the company’s stock, valued at $7,170. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman J Tyler Haahr sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $73.07, for a total value of $365,350.00. The disclosure for this sale can be found here. 6.06% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Meta Financial Group during the second quarter worth approximately $112,000. Victory Capital Management Inc. purchased a new stake in Meta Financial Group in the 1st quarter valued at $122,000. LS Investment Advisors LLC purchased a new stake in Meta Financial Group in the 3rd quarter valued at $152,000. Legal & General Group Plc grew its holdings in Meta Financial Group by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 2,100 shares of the savings and loans company’s stock valued at $186,000 after buying an additional 130 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Meta Financial Group by 86.6% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.
Meta Financial Group Company Profile
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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