Meta Financial Group, Inc. Plans Quarterly Dividend of $0.05 (NASDAQ:CASH)

Meta Financial Group, Inc. (NASDAQ:CASHGet Rating) declared a quarterly dividend on Thursday, May 19th, Wall Street Journal reports. Investors of record on Thursday, June 9th will be given a dividend of 0.05 per share by the savings and loans company on Friday, July 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Wednesday, June 8th.

Meta Financial Group has increased its dividend payment by an average of 2.3% annually over the last three years. Meta Financial Group has a payout ratio of 3.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Meta Financial Group to earn $6.34 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 3.2%.

CASH traded down $1.02 during trading on Thursday, hitting $37.09. The company’s stock had a trading volume of 313,305 shares, compared to its average volume of 267,369. Meta Financial Group has a twelve month low of $36.99 and a twelve month high of $65.96. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average price is $48.52 and its 200-day moving average price is $55.29. The firm has a market capitalization of $1.09 billion, a P/E ratio of 7.10 and a beta of 0.96.

Meta Financial Group (NASDAQ:CASHGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The savings and loans company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.15). The business had revenue of $193.57 million during the quarter, compared to the consensus estimate of $201.08 million. Meta Financial Group had a net margin of 26.84% and a return on equity of 15.34%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 EPS. Equities research analysts expect that Meta Financial Group will post 4.65 EPS for the current fiscal year.

In other Meta Financial Group news, EVP Kia S. Tang sold 4,557 shares of the stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $50.09, for a total transaction of $228,260.13. Following the sale, the executive vice president now directly owns 9,477 shares of the company’s stock, valued at approximately $474,702.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CASH. State Street Corp raised its position in shares of Meta Financial Group by 9.1% during the 1st quarter. State Street Corp now owns 1,619,290 shares of the savings and loans company’s stock valued at $89,010,000 after buying an additional 134,591 shares during the period. Deutsche Bank AG increased its holdings in Meta Financial Group by 519.0% in the 4th quarter. Deutsche Bank AG now owns 132,402 shares of the savings and loans company’s stock valued at $7,899,000 after purchasing an additional 111,011 shares during the last quarter. Barclays PLC grew its stake in shares of Meta Financial Group by 256.6% in the fourth quarter. Barclays PLC now owns 120,207 shares of the savings and loans company’s stock worth $7,171,000 after acquiring an additional 86,501 shares in the last quarter. Morgan Stanley grew its stake in shares of Meta Financial Group by 54.3% in the second quarter. Morgan Stanley now owns 178,537 shares of the savings and loans company’s stock worth $9,039,000 after acquiring an additional 62,840 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Meta Financial Group in the first quarter worth $2,405,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the company. StockNews.com upgraded Meta Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday. B. Riley lowered their target price on Meta Financial Group from $70.00 to $65.00 in a research note on Tuesday, April 12th. Finally, Zacks Investment Research cut Meta Financial Group from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $61.50.

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.

See Also

Dividend History for Meta Financial Group (NASDAQ:CASH)

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