Meta Financial Group, Inc. (NASDAQ:CASH) Receives Consensus Recommendation of “Buy” from Analysts

Meta Financial Group, Inc. (NASDAQ:CASH) has been given an average recommendation of “Buy” by the six brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $56.40.

A number of research firms have recently issued reports on CASH. Zacks Investment Research upgraded Meta Financial Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Friday, July 30th. B. Riley raised their price target on Meta Financial Group from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, September 8th. Finally, Piper Sandler raised their price target on Meta Financial Group from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC lifted its position in Meta Financial Group by 10.7% during the second quarter. Parametric Portfolio Associates LLC now owns 65,978 shares of the savings and loans company’s stock valued at $3,340,000 after purchasing an additional 6,357 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Meta Financial Group in the second quarter worth about $1,706,000. Morgan Stanley grew its position in shares of Meta Financial Group by 54.3% during the second quarter. Morgan Stanley now owns 178,537 shares of the savings and loans company’s stock worth $9,039,000 after purchasing an additional 62,840 shares in the last quarter. Orchard Capital Managment LLC raised its stake in Meta Financial Group by 16.1% during the 2nd quarter. Orchard Capital Managment LLC now owns 290,545 shares of the savings and loans company’s stock valued at $14,710,000 after purchasing an additional 40,205 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its holdings in Meta Financial Group by 109,487.5% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 8,767 shares of the savings and loans company’s stock valued at $444,000 after buying an additional 8,759 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Shares of Meta Financial Group stock traded down $1.31 on Tuesday, reaching $50.34. The company’s stock had a trading volume of 188,200 shares, compared to its average volume of 196,618. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 11.97 and a beta of 0.92. The firm’s fifty day simple moving average is $49.30 and its two-hundred day simple moving average is $48.89. Meta Financial Group has a 52 week low of $18.13 and a 52 week high of $54.65. The company has a quick ratio of 0.68, a current ratio of 0.70 and a debt-to-equity ratio of 0.11.

Meta Financial Group (NASDAQ:CASH) last posted its earnings results on Wednesday, July 28th. The savings and loans company reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.32. Meta Financial Group had a return on equity of 16.26% and a net margin of 25.19%. As a group, research analysts predict that Meta Financial Group will post 4.78 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Thursday, September 9th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 8th. This represents a $0.20 annualized dividend and a yield of 0.40%. Meta Financial Group’s dividend payout ratio (DPR) is presently 8.23%.

About Meta Financial Group

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 & Other. The Consumer segment provides meta payment systems (MPS), consumer credit products, warehouse finance and other tax services.

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