BidaskClub Upgrades Meta Financial Group (NASDAQ:CASH) to Strong-Buy

Meta Financial Group (NASDAQ:CASH) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday, BidAskClub reports.

CASH has been the topic of several other reports. B. Riley set a $38.00 price target on Meta Financial Group and gave the stock a “buy” rating in a report on Friday, August 23rd. Zacks Investment Research cut Meta Financial Group from a “buy” rating to a “hold” rating in a report on Monday. Finally, Keefe, Bruyette & Woods set a $39.00 target price on Meta Financial Group and gave the company a “buy” rating in a report on Friday, September 13th.

Shares of NASDAQ:CASH traded up $0.12 during midday trading on Tuesday, hitting $35.54. 12,877 shares of the stock were exchanged, compared to its average volume of 206,425. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 12.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.73 and a current ratio of 0.74. The business’s 50-day moving average price is $33.39 and its 200 day moving average price is $28.68. Meta Financial Group has a 12 month low of $17.84 and a 12 month high of $36.06.

Meta Financial Group (NASDAQ:CASH) last released its quarterly earnings results on Tuesday, July 30th. The savings and loans company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.25. The company had revenue of $110.76 million for the quarter. Meta Financial Group had a return on equity of 11.64% and a net margin of 16.57%. As a group, sell-side analysts expect that Meta Financial Group will post 2.76 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in Meta Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 896 shares of the savings and loans company’s stock valued at $25,000 after acquiring an additional 649 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Meta Financial Group in the second quarter valued at approximately $49,000. C M Bidwell & Associates Ltd. bought a new stake in Meta Financial Group in the second quarter valued at approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Meta Financial Group by 99.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,862 shares of the savings and loans company’s stock valued at $80,000 after acquiring an additional 1,427 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Meta Financial Group by 16.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,347 shares of the savings and loans company’s stock valued at $109,000 after acquiring an additional 485 shares during the last quarter. Institutional investors and hedge funds own 75.28% of the company’s stock.

About Meta Financial Group

Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services in the United States. The company accepts various deposit products, including statement savings accounts, money market savings accounts, negotiable order of withdrawal accounts, and checking accounts; and deposits related to prepaid cards, which primarily comprise checking accounts and certificate accounts.

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