Meta Financial Group Inc. (CASH) Shares Up 5.3% After Analyst Upgrade
Shares of Meta Financial Group Inc. (NASDAQ:CASH) shot up 5.3% during trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $67.00 to $79.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Meta Financial Group traded as high as $66.85 and last traded at $66.49, with a volume of 91,758 shares trading hands. The stock had previously closed at $63.17.
Separately, Zacks Investment Research downgraded shares of Meta Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th.
A number of hedge funds have recently made changes to their positions in the stock. Emerald Acquisition Ltd. bought a new stake in shares of Meta Financial Group during the second quarter worth about $672,000. Swiss National Bank bought a new stake in shares of Meta Financial Group during the second quarter worth about $571,000. California State Teachers Retirement System increased its stake in shares of Meta Financial Group by 7.7% in the second quarter. California State Teachers Retirement System now owns 17,264 shares of the company’s stock worth $880,000 after buying an additional 1,238 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Meta Financial Group by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 33,697 shares of the company’s stock worth $1,717,000 after buying an additional 2,222 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in shares of Meta Financial Group during the second quarter worth about $611,000.
The stock’s 50 day moving average price is $60.60 and its 200 day moving average price is $52.78. The company has a market cap of $566.33 million, a P/E ratio of 17.04 and a beta of 0.51.
Meta Financial Group (NASDAQ:CASH) last released its quarterly earnings data on Monday, July 25th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. Meta Financial Group had a net margin of 18.45% and a return on equity of 11.22%. Analysts predict that Meta Financial Group Inc. will post $3.98 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, September 1st. Meta Financial Group’s dividend payout ratio (DPR) is currently 13.54%.
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. 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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