Zacks Investment Research Upgrades Meta Financial Group, Inc. (CASH) to “Strong-Buy”

Zacks Investment Research upgraded shares of Meta Financial Group, Inc. (NASDAQ:CASH) from a hold rating to a strong-buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $100.00 price target on the savings and loans company’s stock.

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. “

CASH has been the topic of a number of other reports. BidaskClub cut Meta Financial Group from a buy rating to a hold rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $121.00 price objective on shares of Meta Financial Group in a research note on Thursday, July 27th. B. Riley raised Meta Financial Group from a neutral rating to a buy rating and set a $95.00 price objective on the stock in a research note on Wednesday. ValuEngine cut Meta Financial Group from a strong-buy rating to a buy rating in a research note on Thursday, August 24th. Finally, FBR & Co raised Meta Financial Group from a neutral rating to a buy rating and set a $95.00 price objective on the stock in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $94.50.

Meta Financial Group (NASDAQ CASH) traded up $0.20 during midday trading on Wednesday, hitting $86.85. The company had a trading volume of 108,387 shares, compared to its average volume of 85,200. Meta Financial Group has a 12 month low of $60.70 and a 12 month high of $106.90. The company has a market capitalization of $835.72, a PE ratio of 12.39 and a beta of 0.89. The company has a quick ratio of 0.37, a current ratio of 0.55 and a debt-to-equity ratio of 0.20.

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In other Meta Financial Group news, Director Frederick V. Moore bought 1,393 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were bought at an average cost 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 $7,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick V. Moore sold 450 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $71.75, for a total value of $32,287.50. Following the completion of the sale, the director now directly owns 100 shares in the company, valued at $7,175. The disclosure for this sale can be found here. 6.06% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP grew its stake in shares of Meta Financial Group by 71.8% in the second quarter. First Trust Advisors LP now owns 42,948 shares of the savings and loans company’s stock worth $3,822,000 after purchasing an additional 17,946 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of 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 during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in shares of Meta Financial Group by 22.1% in the second quarter. Pacific Ridge Capital Partners LLC now owns 73,396 shares of the savings and loans company’s stock worth $6,532,000 after purchasing an additional 13,270 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Meta Financial Group by 0.4% in the first quarter. AQR Capital Management LLC now owns 32,982 shares of the savings and loans company’s stock worth $2,919,000 after purchasing an additional 135 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Meta Financial Group by 11.3% in the second quarter. Swiss National Bank now owns 14,800 shares of the savings and loans company’s stock worth $1,317,000 after purchasing an additional 1,500 shares during the last quarter. 73.91% of the stock is currently owned by institutional investors.

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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