Meta Financial Group, Inc. (NASDAQ:CASH) shares traded up 11.5% during mid-day trading on Monday . The company traded as high as $75.00 and last traded at $74.35. 595,689 shares were traded during trading, an increase of 765% from the average session volume of 68,875 shares. The stock had previously closed at $66.70.
A number of research analysts have issued reports on the stock. FBR & Co lowered shares of Meta Financial Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research note on Friday, July 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $121.00 price target on shares of Meta Financial Group in a research note on Thursday, July 27th. BidaskClub upgraded shares of Meta Financial Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. ValuEngine lowered shares of Meta Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 26th. Finally, Zacks Investment Research upgraded shares of Meta Financial Group from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $104.33.
The stock’s 50-day moving average price is $72.84 and its 200 day moving average price is $83.96. The company has a market cap of $695.10 million, a price-to-earnings ratio of 13.71 and a beta of 0.88.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.13 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.70%. Meta Financial Group’s payout ratio is 9.81%.
In other news, Chairman J Tyler Haahr sold 5,000 shares of Meta Financial Group stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $73.07, for a total value of $365,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Douglas J. Hajek sold 440 shares of Meta Financial Group stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $90.31, for a total transaction of $39,736.40. Following the completion of the transaction, the director now directly owns 2,867 shares in the company, valued at $258,918.77. The disclosure for this sale can be found here. Insiders sold a total of 10,440 shares of company stock worth $849,886 over the last ninety days. Corporate insiders own 6.06% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CASH. SG Americas Securities LLC acquired a new position in Meta Financial Group in the 2nd quarter valued at $112,000. Victory Capital Management Inc. acquired a new position in Meta Financial Group in the 1st quarter valued at $122,000. Legal & General Group Plc increased its stake in Meta Financial Group by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 2,100 shares of the savings and loans company’s stock valued at $186,000 after buying an additional 130 shares during the period. Bank of America Corp DE increased its stake in Meta Financial Group by 86.6% in the 1st quarter. Bank of America Corp DE now owns 2,112 shares of the savings and loans company’s stock valued at $187,000 after buying an additional 980 shares during the period. Finally, 1st Global Advisors Inc. increased its stake in Meta Financial Group by 1.3% in the 2nd quarter. 1st Global Advisors Inc. now owns 2,461 shares of the savings and loans company’s stock valued at $219,000 after buying an additional 32 shares during the period. 74.23% of the stock is currently owned by institutional investors.
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About Meta Financial Group
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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