Meta Financial Group (CASH) Downgraded to Hold at Zacks Investment Research
Meta Financial Group (NASDAQ:CASH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday.
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 analysts also recently issued reports on the stock. Keefe, Bruyette & Woods restated a “buy” rating and issued a $125.00 price target on shares of Meta Financial Group in a research report on Thursday, January 11th. B. Riley boosted their price target on shares of Meta Financial Group from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Lake Street Capital started coverage on shares of Meta Financial Group in a research report on Monday, January 8th. They issued a “buy” rating and a $120.00 price target on the stock. BidaskClub downgraded shares of Meta Financial Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Finally, FBR & Co upgraded shares of Meta Financial Group from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $115.80.
Shares of Meta Financial Group (NASDAQ:CASH) traded down $0.60 during midday trading on Monday, hitting $103.15. 54,000 shares of the stock were exchanged, compared to its average volume of 88,510. The firm has a market cap of $1,002.73, a P/E ratio of 21.53 and a beta of 0.90. Meta Financial Group has a 1 year low of $60.70 and a 1 year high of $105.50. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.20.
Meta Financial Group (NASDAQ:CASH) last issued its quarterly earnings results on Monday, October 30th. The savings and loans company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $1.38. Meta Financial Group had a net margin of 16.03% and a return on equity of 15.91%. sell-side analysts expect that Meta Financial Group will post 7.03 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Meta Financial Group during the 2nd quarter valued at $112,000. Malaga Cove Capital LLC acquired a new position in shares of Meta Financial Group during the 3rd quarter valued at $111,000. Victory Capital Management Inc. lifted its position in shares of Meta Financial Group by 31.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,806 shares of the savings and loans company’s stock valued at $161,000 after acquiring an additional 430 shares during the period. LS Investment Advisors LLC acquired a new position in shares of Meta Financial Group during the 3rd quarter valued at $152,000. Finally, Legal & General Group Plc lifted its position in shares of Meta Financial Group by 6.6% during 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 acquiring an additional 130 shares during the period. Institutional investors own 76.73% of the company’s stock.
About Meta Financial Group
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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