Meta Financial Group (NASDAQ:CASH) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Meta Financial Group (NASDAQ:CASH) from a hold rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

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. “

CASH has been the topic of a number of other reports. B. Riley boosted their target price on Meta Financial Group from $65.00 to $68.00 and gave the stock a buy rating in a report on Thursday, October 28th. Raymond James upped their price objective on Meta Financial Group from $63.00 to $70.00 and gave the company a strong-buy rating in a report on Thursday, October 28th.

CASH stock opened at $63.02 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.93 billion, a PE ratio of 14.36 and a beta of 0.85. Meta Financial Group has a 1-year low of $32.76 and a 1-year high of $65.96. The business’s 50 day simple moving average is $60.59 and its 200 day simple moving average is $55.18.

Meta Financial Group (NASDAQ:CASH) last posted its earnings results on Wednesday, October 27th. The savings and loans company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.31). The business had revenue of $120.21 million for the quarter, compared to analyst estimates of $116.50 million. Meta Financial Group had a return on equity of 16.43% and a net margin of 25.07%. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, sell-side analysts predict that Meta Financial Group will post 4.84 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Thursday, December 9th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Wednesday, December 8th. Meta Financial Group’s dividend payout ratio is 4.56%.

In other news, Director Michael Robert Kramer sold 2,000 shares of the stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $59.72, for a total transaction of $119,440.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elizabeth G. Hoople sold 7,250 shares of the stock in a transaction on Monday, December 13th. The stock was sold at an average price of $57.18, for a total value of $414,555.00. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in shares of Meta Financial Group by 441.0% during the 2nd quarter. Macquarie Group Ltd. now owns 1,980 shares of the savings and loans company’s stock worth $100,000 after purchasing an additional 1,614 shares in the last quarter. Huntington National Bank grew its holdings in shares of Meta Financial Group by 215,700.0% during the 3rd quarter. Huntington National Bank now owns 2,158 shares of the savings and loans company’s stock worth $113,000 after purchasing an additional 2,157 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Meta Financial Group by 119.2% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,893 shares of the savings and loans company’s stock worth $149,000 after purchasing an additional 1,573 shares in the last quarter. Shell Asset Management Co. bought a new stake in shares of Meta Financial Group during the 2nd quarter worth $178,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Meta Financial Group during the 2nd quarter worth $202,000. 83.91% of the stock is currently owned by institutional investors.

Meta Financial Group Company Profile

Meta Financial Group, Inc operates as a financial holding company, which provides savings and loan services. The firm operates through the following business segments: Consumer, Commercial, and Corporate Services and Other. The Consumer segment provides meta payment systems (MPS), consumer credit products, warehouse finance and other tax services.

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