Meta Financial Group (NASDAQ:CASH) Cut to “Sell” at Zacks Investment Research

Meta Financial Group (NASDAQ:CASH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, December 26th.

According to Zacks, “Meta Financial Group, Inc. is the holding company for federally chartered savings bank MetaBank, Member FDIC. Headquartered in Sioux Falls, S.D., MetaBank operates in both the Banking and Payments industries: MetaBank, its retail banking division; Meta Payment Systems, its electronic payments division; AFS/IBEX, its insurance premium finance division; and Refund Advantage, its tax refund-transfer software division. The synergies among the four provide a unique business model for the company. “

A number of other analysts also recently issued reports on CASH. FBR & Co upgraded shares of Meta Financial Group from a “neutral” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, October 31st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $88.00 target price on shares of Meta Financial Group in a report on Thursday, October 12th. B. Riley set a $100.00 target price on shares of Meta Financial Group and gave the company a “buy” rating in a report on Thursday, November 16th. Finally, BidaskClub downgraded shares of Meta Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $115.80.

Meta Financial Group (NASDAQ:CASH) opened at $103.75 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.20. Meta Financial Group has a 12 month low of $60.70 and a 12 month high of $106.74. The firm has a market cap of $1,000.00, a P/E ratio of 21.61 and a beta of 0.90.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Meta Financial Group by 7.2% in the third quarter. Dimensional Fund Advisors LP now owns 467,964 shares of the savings and loans company’s stock valued at $36,689,000 after buying an additional 31,433 shares during the last quarter. Second Curve Capital LLC raised its holdings in shares of Meta Financial Group by 37.4% in the third quarter. Second Curve Capital LLC now owns 424,132 shares of the savings and loans company’s stock valued at $33,252,000 after buying an additional 115,400 shares during the last quarter. Patriot Financial Partners GP LP raised its holdings in shares of Meta Financial Group by 14.4% in the third quarter. Patriot Financial Partners GP LP now owns 397,069 shares of the savings and loans company’s stock valued at $31,130,000 after buying an additional 50,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Meta Financial Group by 5.0% in the second quarter. Vanguard Group Inc. now owns 381,675 shares of the savings and loans company’s stock valued at $33,970,000 after buying an additional 18,144 shares during the last quarter. Finally, Ashford Capital Management Inc. increased its stake in shares of Meta Financial Group by 3.7% during the third quarter. Ashford Capital Management Inc. now owns 295,115 shares of the savings and loans company’s stock worth $23,137,000 after acquiring an additional 10,541 shares during the period. 76.89% of the stock is owned by hedge funds and other 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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