IndexIQ Advisors LLC Buys 4,461 Shares of Meta Financial Group, Inc. (CASH)

IndexIQ Advisors LLC grew its stake in Meta Financial Group, Inc. (NASDAQ:CASH) by 83.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,792 shares of the savings and loans company’s stock after purchasing an additional 4,461 shares during the period. IndexIQ Advisors LLC owned approximately 0.10% of Meta Financial Group worth $768,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. 1st Global Advisors Inc. boosted its stake in shares of Meta Financial Group by 1.3% in the second 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 in the last quarter. Legal & General Group Plc boosted its stake in shares of Meta Financial Group by 6.6% in the second 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 in the last quarter. AQR Capital Management LLC boosted 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 valued at $2,919,000 after buying an additional 135 shares in the last quarter. Teachers Advisors LLC boosted its position in Meta Financial Group by 2.1% during 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. Finally, Voya Investment Management LLC boosted its position in Meta Financial Group by 8.2% during the second quarter. Voya Investment Management LLC now owns 4,699 shares of the savings and loans company’s stock worth $418,000 after purchasing an additional 356 shares in the last quarter. 73.28% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Meta Financial Group, Inc. (NASDAQ CASH) opened at $85.40 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.55 and a quick ratio of 0.37. Meta Financial Group, Inc. has a 12-month low of $60.70 and a 12-month high of $106.90. The stock has a market capitalization of $818.40, a price-to-earnings ratio of 12.13 and a beta of 0.89.

A number of analysts have commented on the company. FBR & Co downgraded Meta Financial Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research report on Friday, July 28th. Zacks Investment Research downgraded Meta Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $88.00 target price on shares of Meta Financial Group in a research report on Thursday, October 12th. ValuEngine downgraded Meta Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, B. Riley upgraded Meta Financial Group from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Wednesday, November 1st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Meta Financial Group has an average rating of “Buy” and a consensus target price of $94.50.

In related news, Director Frederick V. Moore sold 450 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 100 shares in the company, valued at $7,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick V. Moore bought 1,393 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was acquired 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 owned by corporate insiders.

Meta Financial Group 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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Institutional Ownership by Quarter for Meta Financial Group (NASDAQ:CASH)

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