BidaskClub Upgrades Meta Financial Group (NASDAQ:CASH) to Hold

Meta Financial Group (NASDAQ:CASH) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday, BidAskClub reports.

Several other brokerages have also recently weighed in on CASH. B. Riley reiterated a “buy” rating and set a $25.00 price target on shares of Meta Financial Group in a research report on Friday, June 12th. Zacks Investment Research cut shares of Meta Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, ValuEngine raised shares of Meta Financial Group from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

NASDAQ:CASH opened at $20.08 on Friday. The company has a market capitalization of $695.33 million, a P/E ratio of 7.84 and a beta of 1.10. The business has a fifty day simple moving average of $19.21 and a two-hundred day simple moving average of $19.24. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.86 and a quick ratio of 0.85. Meta Financial Group has a 1 year low of $13.09 and a 1 year high of $40.00.

Meta Financial Group (NASDAQ:CASH) last announced its quarterly earnings data on Wednesday, July 22nd. The savings and loans company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.32. Meta Financial Group had a return on equity of 11.27% and a net margin of 20.68%. The company had revenue of $103.19 million during the quarter, compared to analyst estimates of $105.37 million. As a group, analysts anticipate that Meta Financial Group will post 2.14 earnings per share for the current year.

In related news, Director William David Tull sold 13,670 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $20.53, for a total value of $280,645.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael K. Goik sold 3,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $20.88, for a total value of $62,640.00. Following the completion of the transaction, the executive vice president now directly owns 153,933 shares in the company, valued at approximately $3,214,121.04. The disclosure for this sale can be found here. Insiders sold 99,599 shares of company stock worth $2,034,794 over the last ninety days. 4.67% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in CASH. BlackRock Inc. lifted its position in Meta Financial Group by 3.5% in the 1st quarter. BlackRock Inc. now owns 5,127,536 shares of the savings and loans company’s stock worth $111,372,000 after buying an additional 173,773 shares during the last quarter. State Street Corp lifted its holdings in shares of Meta Financial Group by 5.1% in the 1st quarter. State Street Corp now owns 1,047,053 shares of the savings and loans company’s stock worth $22,794,000 after acquiring an additional 50,467 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Meta Financial Group by 5.0% in the 1st quarter. Geode Capital Management LLC now owns 511,633 shares of the savings and loans company’s stock worth $11,112,000 after acquiring an additional 24,365 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Meta Financial Group by 3.9% in the 1st quarter. Driehaus Capital Management LLC now owns 426,481 shares of the savings and loans company’s stock valued at $9,263,000 after purchasing an additional 16,185 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Meta Financial Group by 3.8% during the 1st quarter. Loomis Sayles & Co. L P now owns 338,877 shares of the savings and loans company’s stock valued at $7,360,000 after purchasing an additional 12,303 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Meta Financial Group Company Profile

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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