Meta Financial Group, Inc. (NASDAQ:CASH) Sees Large Decline in Short Interest

Meta Financial Group, Inc. (NASDAQ:CASHGet Rating) was the recipient of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 1,180,000 shares, a decrease of 15.7% from the May 15th total of 1,400,000 shares. Approximately 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 263,200 shares, the short-interest ratio is currently 4.5 days.

Shares of Meta Financial Group stock opened at $37.16 on Friday. 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 company has a market cap of $1.09 billion, a PE ratio of 7.01 and a beta of 0.97. The business has a 50 day moving average of $42.65 and a 200 day moving average of $52.08. Meta Financial Group has a 52 week low of $36.02 and a 52 week high of $65.96.

Meta Financial Group (NASDAQ:CASHGet Rating) last announced its earnings results on Thursday, April 28th. The savings and loans company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.20). The business had revenue of $193.57 million for 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%. Meta Financial Group’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.84 EPS. On average, research analysts anticipate that Meta Financial Group will post 4.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Thursday, June 9th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, June 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. Meta Financial Group’s dividend payout ratio is presently 3.72%.

In other Meta Financial Group news, CEO Brett L. Pharr acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, June 14th. The stock was bought at an average price of $37.25 per share, with a total value of $93,125.00. Following the completion of the acquisition, the chief executive officer now owns 46,875 shares of the company’s stock, valued at $1,746,093.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Robert Kramer sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $41.48, for a total value of $41,480.00. Following the transaction, the director now directly owns 12,850 shares of the company’s stock, valued at approximately $533,018. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in CASH. Quantbot Technologies LP bought a new position in Meta Financial Group in the first quarter worth $34,000. First Community Trust NA bought a new position in Meta Financial Group in the fourth quarter worth $54,000. Advisor Group Holdings Inc. raised its holdings in Meta Financial Group by 27.2% in the first quarter. Advisor Group Holdings Inc. now owns 2,116 shares of the savings and loans company’s stock worth $116,000 after purchasing an additional 453 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Meta Financial Group by 2,079.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,983 shares of the savings and loans company’s stock worth $118,000 after purchasing an additional 1,892 shares in the last quarter. Finally, USA Financial Portformulas Corp bought a new position in Meta Financial Group in the fourth quarter worth $121,000. Institutional investors own 80.28% of the company’s stock.

CASH has been the subject of several recent research reports. B. Riley lowered their price objective on Meta Financial Group from $70.00 to $65.00 in a research report on Tuesday, April 12th. StockNews.com downgraded Meta Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday.

About Meta Financial Group (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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