Zacks: Brokerages Anticipate Meta Financial Group Inc. (CASH) to Announce $0.68 Earnings Per Share
Wall Street analysts expect Meta Financial Group Inc. (NASDAQ:CASH) to report earnings per share of $0.68 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Meta Financial Group’s earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.59. Meta Financial Group reported earnings of $1.24 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 45.2%. The business is expected to announce its next earnings results on Monday, October 29th.
On average, analysts expect that Meta Financial Group will report full-year earnings of $6.16 per share for the current year, with EPS estimates ranging from $6.05 to $6.27. For the next financial year, analysts expect that the business will report earnings of $7.85 per share, with EPS estimates ranging from $7.50 to $8.20. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Meta Financial Group.
Meta Financial Group (NASDAQ:CASH) last released its quarterly earnings data on Thursday, July 26th. The savings and loans company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.66. Meta Financial Group had a net margin of 14.08% and a return on equity of 14.58%. The firm had revenue of $61.64 million for the quarter, compared to analysts’ expectations of $66.50 million.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Alliance Wealth Management Group purchased a new position in shares of Meta Financial Group during the first quarter valued at about $2,399,000. BlackRock Inc. increased its position in shares of Meta Financial Group by 6.1% during the second quarter. BlackRock Inc. now owns 1,312,771 shares of the savings and loans company’s stock valued at $127,863,000 after buying an additional 76,038 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Meta Financial Group by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 513,087 shares of the savings and loans company’s stock valued at $49,975,000 after buying an additional 4,240 shares during the period. Stifel Financial Corp increased its position in shares of Meta Financial Group by 34.7% during the first quarter. Stifel Financial Corp now owns 172,312 shares of the savings and loans company’s stock valued at $18,842,000 after buying an additional 44,391 shares during the period. Finally, Northern Trust Corp increased its position in shares of Meta Financial Group by 1.9% during the first quarter. Northern Trust Corp now owns 137,500 shares of the savings and loans company’s stock valued at $15,014,000 after buying an additional 2,534 shares during the period. Institutional investors own 61.12% of the company’s stock.
Shares of CASH stock traded up $0.30 during mid-day trading on Thursday, reaching $84.70. The stock had a trading volume of 60,681 shares, compared to its average volume of 65,267. Meta Financial Group has a 52-week low of $70.60 and a 52-week high of $117.97. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 12.47 and a beta of 1.07. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.19.
Meta Financial Group’s stock is set to split on the morning of Friday, October 5th. The 3-1 split was announced on Tuesday, August 28th. The newly minted shares will be issued to shareholders after the market closes on Thursday, October 4th.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 7th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, September 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.71%. This is a boost from Meta Financial Group’s previous quarterly dividend of $0.13. Meta Financial Group’s payout ratio is currently 8.51%.
About Meta Financial Group
Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services to individuals, small businesses, financial institutions, and other businesses. It provides various deposit products, such as statement savings accounts, money market savings accounts, and NOW and regular checking accounts, as well as deposits related to prepaid cards, which primarily include checking accounts and certificate accounts.
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