Bank of America Corp DE Grows Stake in Meta Financial Group Inc. (CASH)

Bank of America Corp DE grew its position in Meta Financial Group Inc. (NASDAQ:CASH) by 148.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,709 shares of the savings and loans company’s stock after acquiring an additional 16,542 shares during the quarter. Bank of America Corp DE owned about 0.29% of Meta Financial Group worth $2,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CASH. BlackRock Inc. lifted its position in shares of Meta Financial Group by 6.1% in the second quarter. BlackRock Inc. now owns 1,312,771 shares of the savings and loans company’s stock valued at $127,863,000 after acquiring an additional 76,038 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Meta Financial Group in the second quarter valued at approximately $4,793,000. First Trust Advisors LP lifted its position in shares of Meta Financial Group by 335.3% in the second quarter. First Trust Advisors LP now owns 49,377 shares of the savings and loans company’s stock valued at $4,809,000 after acquiring an additional 38,034 shares in the last quarter. Acuitas Investments LLC lifted its position in shares of Meta Financial Group by 208.5% in the second quarter. Acuitas Investments LLC now owns 20,473 shares of the savings and loans company’s stock valued at $1,994,000 after acquiring an additional 13,836 shares in the last quarter. Finally, John W. Rosenthal Capital Management Inc. lifted its position in shares of Meta Financial Group by 28.6% in the second quarter. John W. Rosenthal Capital Management Inc. now owns 45,000 shares of the savings and loans company’s stock valued at $4,383,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 61.11% of the company’s stock.

Several equities analysts have recently weighed in on CASH shares. Zacks Investment Research upgraded Meta Financial Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 26th. BidaskClub downgraded Meta Financial Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 25th. Raymond James reduced their price objective on Meta Financial Group from $40.00 to $36.67 and set a “strong-buy” rating on the stock in a research report on Monday, September 17th. ValuEngine downgraded Meta Financial Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 6th. Finally, B. Riley reduced their price objective on Meta Financial Group from $33.33 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, September 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.11.

Shares of Meta Financial Group stock opened at $25.41 on Wednesday. Meta Financial Group Inc. has a one year low of $21.55 and a one year high of $39.33. The company has a market cap of $979.82 million, a P/E ratio of 9.04 and a beta of 1.09. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.12.

Meta Financial Group (NASDAQ:CASH) last announced its quarterly earnings data on Wednesday, October 31st. The savings and loans company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. Meta Financial Group had a return on equity of 12.10% and a net margin of 15.05%. The firm had revenue of $73.15 million for the quarter, compared to the consensus estimate of $82.46 million. On average, research analysts predict that Meta Financial Group Inc. will post 2.52 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Bank of America Corp DE Grows Stake in Meta Financial Group Inc. (CASH)” was first published by Enterprise Leader and is the property of of Enterprise Leader. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of international copyright & trademark laws. The legal version of this piece of content can be accessed at https://theenterpriseleader.com/2018/11/07/bank-of-america-corp-de-grows-stake-in-meta-financial-group-inc-cash.html.

Meta Financial Group Company Profile

Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services to individuals, small businesses, financial institutions, and other businesses. It provides various deposit products, such as statement savings accounts, money market savings accounts, and NOW and regular checking accounts, as well as deposits related to prepaid cards, which primarily include checking accounts and certificate accounts.

See Also: Diversification

Institutional Ownership by Quarter for Meta Financial Group (NASDAQ:CASH)

Receive News & Ratings for Meta Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply