Q2 2019 Earnings Estimate for Meta Financial Group Inc. Issued By B. Riley (CASH)
Meta Financial Group Inc. (NASDAQ:CASH) – Stock analysts at B. Riley lowered their Q2 2019 EPS estimates for shares of Meta Financial Group in a report issued on Thursday, March 21st. B. Riley analyst S. Moss now forecasts that the savings and loans company will earn $0.54 per share for the quarter, down from their previous estimate of $0.87. B. Riley also issued estimates for Meta Financial Group’s Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $2.12 EPS and FY2020 earnings at $3.25 EPS.
CASH has been the topic of several other reports. BidaskClub raised Meta Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Zacks Investment Research cut Meta Financial Group from a “hold” rating to a “strong sell” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $36.75.
Meta Financial Group (NASDAQ:CASH) last posted its earnings results on Monday, January 28th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.04). Meta Financial Group had a net margin of 15.76% and a return on equity of 11.61%. The business had revenue of $98.02 million for the quarter, compared to analysts’ expectations of $98.55 million.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.20 annualized dividend and a yield of 1.10%. Meta Financial Group’s payout ratio is 7.12%.
In related news, Director William David Tull sold 24,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $21.60, for a total value of $518,400.00. Following the sale, the director now directly owns 71,025 shares of the company’s stock, valued at $1,534,140. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sheree Thornsberry sold 10,863 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.43, for a total value of $211,068.09. Following the completion of the sale, the executive vice president now directly owns 20,090 shares in the company, valued at $390,348.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,741 shares of company stock worth $2,381,260. 7.69% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Meta Financial Group by 251.8% in the fourth quarter. Geode Capital Management LLC now owns 333,834 shares of the savings and loans company’s stock worth $6,473,000 after purchasing an additional 238,933 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 worth $29,668,000 after acquiring an additional 1,012,492 shares during the last quarter. Millennium Management LLC grew its stake in shares of Meta Financial Group by 303.4% in the fourth quarter. Millennium Management LLC now owns 116,284 shares of the savings and loans company’s stock worth $2,255,000 after acquiring an additional 87,456 shares during the last quarter. Ashford Capital Management Inc. grew its stake in shares of Meta Financial Group by 188.8% in the fourth quarter. Ashford Capital Management Inc. now owns 932,157 shares of the savings and loans company’s stock worth $18,075,000 after acquiring an additional 609,423 shares during the last quarter. Finally, Phocas Financial Corp. grew its stake in shares of Meta Financial Group by 193.7% in the fourth quarter. Phocas Financial Corp. now owns 138,810 shares of the savings and loans company’s stock worth $2,692,000 after acquiring an additional 91,542 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.
About Meta Financial Group
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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