SG Americas Securities LLC grew its position in Meta Financial Group Inc. (NASDAQ:CASH) by 99.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,639 shares of the savings and loans company’s stock after purchasing an additional 1,316 shares during the quarter. SG Americas Securities LLC’s holdings in Meta Financial Group were worth $257,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Alliance Wealth Management Group bought a new position in shares of Meta Financial Group in the first quarter valued at approximately $2,399,000. BlackRock Inc. raised its position in shares of Meta Financial Group by 2.8% in the first quarter. BlackRock Inc. now owns 1,236,733 shares of the savings and loans company’s stock valued at $135,052,000 after purchasing an additional 33,166 shares during the period. Dimensional Fund Advisors LP increased its position in Meta Financial Group by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 508,847 shares of the savings and loans company’s stock worth $55,566,000 after acquiring an additional 1,440 shares during the period. Stifel Financial Corp increased its position in Meta Financial Group by 34.7% during the first quarter. Stifel Financial Corp now owns 172,312 shares of the savings and loans company’s stock worth $18,842,000 after acquiring an additional 44,391 shares during the period. Finally, Northern Trust Corp increased its position in Meta Financial Group by 1.9% during the first quarter. Northern Trust Corp now owns 137,500 shares of the savings and loans company’s stock worth $15,014,000 after acquiring an additional 2,534 shares during the period. 61.11% of the stock is currently owned by institutional investors.
CASH has been the topic of a number of research reports. B. Riley lowered shares of Meta Financial Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $132.00 to $100.00 in a research report on Friday, July 27th. BidaskClub raised shares of Meta Financial Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. Sandler O’Neill set a $120.00 target price on shares of Meta Financial Group and gave the stock a “buy” rating in a research report on Monday, August 6th. ValuEngine lowered shares of Meta Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Finally, Raymond James dropped their target price on shares of Meta Financial Group from $120.00 to $110.00 and set a “strong-buy” rating on the stock in a research report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $111.43.
Shares of Meta Financial Group stock opened at $82.95 on Tuesday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.46 and a current ratio of 0.46. Meta Financial Group Inc. has a 52-week low of $73.30 and a 52-week high of $117.97.
Meta Financial Group shares are going to split on Friday, October 5th. The 3-1 split was announced on Tuesday, August 28th. The newly minted shares will be distributed to shareholders after the market closes on Thursday, October 4th.
Meta Financial Group (NASDAQ:CASH) last announced its quarterly earnings results on Thursday, July 26th. The savings and loans company reported $1.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.66. The firm had revenue of $61.64 million for the quarter, compared to analyst estimates of $66.50 million. Meta Financial Group had a net margin of 14.08% and a return on equity of 14.58%. analysts expect that Meta Financial Group Inc. will post 6.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, September 6th. This is a positive change from Meta Financial Group’s previous quarterly dividend of $0.13. Meta Financial Group’s payout ratio is 8.51%.
Meta Financial Group Company Profile
Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services to individuals, small businesses, financial institutions, and other businesses. It provides various deposit products, such as statement savings accounts, money market savings accounts, and NOW and regular checking accounts, as well as deposits related to prepaid cards, which primarily include checking accounts and certificate accounts.
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