Short Interest in Meta Financial Group, Inc. (NASDAQ:CASH) Declines By 20.7%

Meta Financial Group, Inc. (NASDAQ:CASHGet Rating) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 1,300,000 shares, a decrease of 20.7% from the March 15th total of 1,640,000 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is currently ∞ days.

Shares of CASH stock opened at $47.80 on Tuesday. The business’s fifty day simple moving average is $53.79 and its 200-day simple moving average is $57.70. The company has a market cap of $1.43 billion, a PE ratio of 8.61 and a beta of 0.86. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.11. Meta Financial Group has a 12-month low of $43.64 and a 12-month high of $65.96.

Meta Financial Group (NASDAQ:CASHGet Rating) last issued its quarterly earnings results on Wednesday, January 26th. The savings and loans company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $158.20 million for the quarter, compared to the consensus estimate of $115.17 million. Meta Financial Group had a return on equity of 15.89% and a net margin of 28.68%. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, equities analysts forecast that Meta Financial Group will post 4.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Thursday, March 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, March 9th. Meta Financial Group’s payout ratio is 3.60%.

A number of analysts have weighed in on the company. B. Riley lowered their target price on Meta Financial Group from $70.00 to $65.00 in a report on Tuesday, April 12th. StockNews.com assumed coverage on Meta Financial Group in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research lowered Meta Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $62.75.

In related news, EVP Kia S. Tang sold 4,557 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $50.09, for a total value of $228,260.13. Following the completion of the sale, the executive vice president now owns 9,477 shares in the company, valued at $474,702.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Robert Kramer sold 2,300 shares of the company’s stock in a transaction on Monday, January 31st. The stock was sold at an average price of $60.00, for a total value of $138,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,032 shares of company stock worth $1,271,005. Insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASH. Morgan Stanley increased its position in shares of Meta Financial Group by 54.3% in the 2nd quarter. Morgan Stanley now owns 178,537 shares of the savings and loans company’s stock valued at $9,039,000 after acquiring an additional 62,840 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Meta Financial Group by 10.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 54,816 shares of the savings and loans company’s stock valued at $2,877,000 after acquiring an additional 5,406 shares during the period. Huntington National Bank increased its position in shares of Meta Financial Group by 215,700.0% in the 3rd quarter. Huntington National Bank now owns 2,158 shares of the savings and loans company’s stock valued at $113,000 after acquiring an additional 2,157 shares during the period. Maryland State Retirement & Pension System acquired a new position in shares of Meta Financial Group in the 3rd quarter valued at $664,000. Finally, Victory Capital Management Inc. increased its position in shares of Meta Financial Group by 7.1% in the 3rd quarter. Victory Capital Management Inc. now owns 27,432 shares of the savings and loans company’s stock valued at $1,439,000 after acquiring an additional 1,818 shares during the period. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

Meta Financial Group Company Profile (Get Rating)

Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services in the United States. It operates through three segments: Consumer, Commercial, and Corporate Services/Other. The company offers demand deposit accounts, savings accounts, money market savings accounts, and certificate accounts; term lending, asset-based lending, factoring, leasing, insurance premium financing, government guaranteed lending, and other commercial finance products; warehouse financing; healthcare receivables loans; and consumer credit products.

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