Mesirow Financial Investment Management Inc. lessened its holdings in shares of Meta Financial Group Inc. (NASDAQ:CASH) by 23.7% during the 4th quarter, Holdings Channel reports. The firm owned 13,299 shares of the savings and loans company’s stock after selling 4,127 shares during the period. Meta Financial Group comprises about 2.1% of Mesirow Financial Investment Management Inc.’s portfolio, making the stock its 6th biggest holding. Mesirow Financial Investment Management Inc.’s holdings in Meta Financial Group were worth $486,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Delta Investment Management LLC purchased a new position in shares of Meta Financial Group in the 3rd quarter worth approximately $6,395,000. BlackRock Inc. raised its position in Meta Financial Group by 10.7% during the 2nd quarter. BlackRock Inc. now owns 4,634,360 shares of the savings and loans company’s stock valued at $129,993,000 after purchasing an additional 448,762 shares in the last quarter. Vanguard Group Inc. raised its position in Meta Financial Group by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,148,124 shares of the savings and loans company’s stock valued at $60,254,000 after purchasing an additional 40,021 shares in the last quarter. Executive Wealth Management LLC bought a new stake in Meta Financial Group during the 3rd quarter valued at $1,322,000. Finally, State Street Corp raised its position in Meta Financial Group by 10.2% during the 3rd quarter. State Street Corp now owns 989,136 shares of the savings and loans company’s stock valued at $32,302,000 after purchasing an additional 91,812 shares in the last quarter. 72.26% of the stock is currently owned by institutional investors.
CASH has been the subject of a number of research analyst reports. Raymond James lifted their target price on Meta Financial Group from $38.00 to $41.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods set a $39.00 target price on Meta Financial Group and gave the company a “buy” rating in a research report on Friday, September 13th. B. Riley lifted their target price on Meta Financial Group from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday. BidaskClub lowered Meta Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research raised Meta Financial Group from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Wednesday, December 25th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.25.
Meta Financial Group (NASDAQ:CASH) last released its quarterly earnings results on Thursday, October 24th. The savings and loans company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The firm had revenue of $101.60 million during the quarter, compared to analyst estimates of $103.94 million. Meta Financial Group had a return on equity of 12.70% and a net margin of 17.69%. Analysts forecast that Meta Financial Group Inc. will post 3.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, December 9th. Meta Financial Group’s payout ratio is 7.52%.
In other news, CAO Sonja Anne Theisen sold 5,604 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $34.67, for a total value of $194,290.68. Following the completion of the transaction, the chief accounting officer now directly owns 9,245 shares of the company’s stock, valued at approximately $320,524.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michael K. Goik sold 13,872 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $32.30, for a total value of $448,065.60. Following the completion of the transaction, the insider now directly owns 171,535 shares of the company’s stock, valued at $5,540,580.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,419 shares of company stock valued at $954,914. Corporate insiders own 7.69% 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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