Meta Financial Group, Inc. (NASDAQ:CASH) - Equities researchers at Piper Sandler upped their Q2 2022 earnings estimates for Meta Financial Group in a report issued on Thursday, October 7th. Piper Sandler analyst F. Schiraldi now forecasts that the savings and loans company will post earnings per share of $2.20 for the quarter, up from their prior forecast of $2.19. Piper Sandler currently has a "Overweight" rating and a $60.00 price target on the stock. Piper Sandler also issued estimates for Meta Financial Group's Q3 2022 earnings at $1.04 EPS. Meta Financial Group (NASDAQ:CASH) last released its quarterly earnings results on Wednesday, July 28th. The savings and loans company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.89 by $0.32. Meta Financial Group had a net margin of 25.19% and a return on equity of 16.26%. The company had revenue of $130.93 million during the quarter, compared to analysts' expectations of $118.29 million.
Several other research analysts have also recently commented on the stock. B. Riley increased their target price on shares of Meta Financial Group from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, September 8th. Zacks Investment Research upgraded shares of Meta Financial Group from a "hold" rating to a "buy" rating and set a $56.00 price target for the company in a research note on Friday, July 30th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $56.40.
Shares of CASH 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 firm 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 capitalization 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-to-equity ratio of 0.11.
Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Meta Financial Group by 80.4% in the 2nd quarter. FMR LLC now owns 2,438,895 shares of the savings and loans company's stock valued at $123,482,000 after purchasing an additional 1,086,884 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Meta Financial Group by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,079,713 shares of the savings and loans company's stock valued at $105,296,000 after purchasing an additional 33,087 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Meta Financial Group by 8.7% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,073,936 shares of the savings and loans company's stock valued at $54,373,000 after purchasing an additional 86,152 shares in the last quarter. State Street Corp boosted its stake in shares of Meta Financial Group by 2.9% in the 2nd quarter. State Street Corp now owns 1,026,753 shares of the savings and loans company's stock valued at $52,037,000 after purchasing an additional 28,912 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Meta Financial Group by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 576,733 shares of the savings and loans company's stock valued at $29,199,000 after purchasing an additional 17,177 shares in the last quarter. Institutional investors own 79.69% of the company's stock.
In related news, EVP Anthony M. Sharett sold 589 shares of the firm's stock in a transaction dated Thursday, September 23rd. The shares were sold at an average price of $51.69, for a total transaction 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 stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Thursday, September 9th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Wednesday, September 8th. 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 firm operates through the following business segments: Consumer, Commercial, and Corporate Services & Other. The Consumer segment provides meta payment systems (MPS), consumer credit products, warehouse finance and other tax services.
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