Meta Financial Group, Inc. (NASDAQ: CASH) – Piper Sandler equity researchers increased their earnings estimates for the second quarter of 2022 for Meta Financial Group in a report released on Thursday, October 7. Piper Sandler F. Schiraldi analyst now expects the savings and loan company to post earnings per share of $ 2.20 for the quarter, up from its previous forecast of $ 2.19. Piper Sandler currently has an “overweight” rating and a target price of $ 60.00 on the stock. Piper Sandler also released estimates for Meta Financial Group’s third quarter 2022 profit at $ 1.04 per share. Meta Financial Group (NASDAQ: CASH) last released its quarterly results on Wednesday, July 28. The savings and loan company reported earnings per share of $ 1.21 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.89 of $ 0.32. Meta Financial Group had a net margin of 25.19% and a return on equity of 16.26%. The company posted revenue of $ 130.93 million in the quarter, compared to analysts’ expectations of $ 118.29 million.
Several other research analysts also recently commented on the headline. B. Riley raised his target price on Meta Financial Group shares from $ 55 to $ 65 and assigned the stock a “buy” rating in a report released on Wednesday, September 8. Zacks investment research upgraded Meta Financial Group shares from a “hold” rating to a “buy” rating and set a price target of $ 56.00 for the company in a research note on Friday, July 30. Four research analysts rated the stock with a buy rating and one gave the stock a high buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $ 56.40.
Actions of SPECIES opened at $ 56.93 on Friday. Meta Financial Group has a 12-month low of $ 21.68 and a 12-month high of $ 57.22. The company has a fifty-day simple moving average of $ 50.48 and a 200-day simple moving average of $ 49.66. The stock has a market cap of $ 1.82 billion, a price-to-earnings ratio of 13.33 and a beta of 0.92. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt ratio of 0.11.
Several institutional investors and hedge funds have recently bought and sold shares in the company. FMR LLC increased its stake in Meta Financial Group shares by 80.4% in the 2nd quarter. FMR LLC now owns 2,438,895 shares of the savings and loan company valued at $ 123,482,000 after purchasing an additional 1,086,884 shares in the last quarter. Vanguard Group Inc. increased its stake in Meta Financial Group shares by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,079,713 shares of the savings and loan company valued at $ 105,296,000 after purchasing an additional 33,087 shares in the last quarter. Nantahala Capital Management LLC increased its stake in Meta Financial Group shares by 8.7% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,073,936 shares of the savings and loan company valued at $ 54,373,000 after purchasing an additional 86,152 shares in the last quarter. State Street Corp increased its stake in Meta Financial Group shares by 2.9% in the 2nd quarter. State Street Corp now owns 1,026,753 shares of the savings and loan company valued at $ 52,037,000 after purchasing an additional 28,912 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Meta Financial Group shares by 3.1% in the second quarter. Geode Capital Management LLC now owns 576,733 shares of the savings and loan company valued at $ 29,199,000 after purchasing an additional 17,177 shares in the last quarter. Institutional investors hold 79.69% of the shares of the company.
In related news, EVP Anthony M. Sharett sold 589 shares of the company in a transaction dated Thursday, September 23. The shares were sold at an average price of $ 51.69, for a total trade of $ 30,445.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.40% of the shares are currently held by insiders of the company.
The company also recently declared a quarterly dividend, which was paid on Friday, October 1. Investors of record on Thursday, September 9, received a dividend of $ 0.05 per share. This represents a dividend of $ 0.20 on an annualized basis and a return of 0.35%. The ex-dividend date of this dividend was Wednesday, September 8. Meta Financial Group’s dividend payout ratio is 8.23%.
About Meta Financial Group
Meta Financial Group, Inc. operates as a financial holding company, which provides savings and loan services. The company operates in the following business segments: consumer, commercial and business services and others. The consumer segment provides meta-payment systems (MPS), consumer credit products, warehouse finance, and other tax services.
See also: Market Timing
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