B. Riley FBR, Inc. Upgrades Meta Financial Group, Inc. (CASH) to Buy

Meta Financial Group, Inc. (NASDAQ:CASH) was upgraded by equities researchers at B. Riley FBR, Inc. from a “neutral” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $95.00 target price on the savings and loans company’s stock. B. Riley FBR, Inc.’s price target points to a potential upside of 8.88% from the stock’s current price.

CASH has been the subject of several other reports. BidaskClub downgraded Meta Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Meta Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods restated a “buy” rating and set a $121.00 target price on shares of Meta Financial Group in a research note on Thursday, July 27th. ValuEngine downgraded Meta Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. Finally, FBR & Co restated a “hold” rating and set a $95.00 target price on shares of Meta Financial Group in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $92.67.

Shares of Meta Financial Group (NASDAQ CASH) opened at 87.25 on Wednesday. Meta Financial Group has a one year low of $60.70 and a one year high of $106.90. The firm’s 50-day moving average price is $78.91 and its 200-day moving average price is $81.81. The stock has a market capitalization of $815.70 million, a P/E ratio of 16.09 and a beta of 0.88.

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In related news, Chairman J Tyler Haahr sold 5,000 shares of Meta Financial Group stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $73.07, for a total value of $365,350.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick V. Moore purchased 1,393 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was purchased at an average price of $71.70 per share, with a total value of $99,878.10. Following the completion of the purchase, the director now directly owns 100 shares of the company’s stock, valued at approximately $7,170. The disclosure for this purchase can be found here. 6.06% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of CASH. Wells Fargo & Company MN grew its stake in Meta Financial Group by 1.4% in the first quarter. Wells Fargo & Company MN now owns 5,531 shares of the savings and loans company’s stock worth $490,000 after purchasing an additional 78 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Meta Financial Group by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 54,175 shares of the savings and loans company’s stock worth $4,794,000 after purchasing an additional 3,532 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Meta Financial Group in the first quarter worth about $122,000. American International Group Inc. grew its stake in Meta Financial Group by 7.1% in the first quarter. American International Group Inc. now owns 5,071 shares of the savings and loans company’s stock worth $449,000 after purchasing an additional 337 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in Meta Financial Group by 2.1% in the first quarter. Teachers Advisors LLC now owns 14,134 shares of the savings and loans company’s stock worth $1,251,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 73.91% of the company’s stock.

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 (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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