The stock of Meta Financial Group Inc. (NASDAQ:CASH) hit a new 52-week high and has $98.47 target or 6.00% above today’s $92.90 share price. The 6 months bullish chart indicates low risk for the $817.33 million company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $98.47 price target is reached, the company will be worth $49.04 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 25,858 shares traded hands. Meta Financial Group Inc. (NASDAQ:CASH) has risen 96.35% since April 20, 2016 and is uptrending. It has outperformed by 91.79% the S&P500.
Meta Financial Group Inc. (NASDAQ:CASH) Ratings Coverage
Out of 2 analysts covering Meta Financial Group (NASDAQ:CASH), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $67 is the highest target while $55 is the lowest. The $67 average target is -27.88% below today’s ($92.9) stock price. Meta Financial Group has been the topic of 3 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Sandler O’Neill on Tuesday, October 13. Wood maintained it with “Outperform” rating and $67 target price in Monday, August 15 report. The firm earned “Outperform” rating on Thursday, April 7 by Wood.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 2.52 in Q2 2016. Its down 0.44, from 2.96 in 2016Q1. The ratio dropped, as 3 funds sold all Meta Financial Group Inc. shares owned while 20 reduced positions. 27 funds bought stakes while 41 increased positions. They now own 5.74 million shares or 9.81% more from 5.22 million shares in 2016Q1.
Moreover, Rhumbline Advisers has 0% invested in Meta Financial Group Inc. (NASDAQ:CASH) for 9,198 shares. Wellington Mgmt Group Incorporated Llp holds 151,030 shares or 0% of its portfolio. Blackrock Fund Advisors holds 216,538 shares or 0% of its portfolio. Teachers last reported 11,398 shares in the company. Blackrock Grp Inc reported 2,541 shares or 0% of all its holdings. Panagora Asset Incorporated holds 0% of its portfolio in Meta Financial Group Inc. (NASDAQ:CASH) for 123 shares. Guggenheim Capital Ltd accumulated 0% or 22,294 shares. First Tru L P has 11,953 shares for 0% of their US portfolio. Morgan Stanley has 0% invested in the company for 1,360 shares. Moreover, Sg Cap Mngmt Limited has 1.85% invested in Meta Financial Group Inc. (NASDAQ:CASH) for 148,048 shares. Systematic Financial Mgmt Limited Partnership has 0.02% invested in the company for 25,873 shares. Credit Agricole S A has 133,000 shares for 0.03% of their US portfolio. Consector Cap Lp holds 9.41% or 79,094 shares in its portfolio. Bridgeway Management has 0.03% invested in the company for 36,655 shares. Cadence Cap Ltd last reported 18,305 shares in the company.
More news for Meta Financial Group Inc. (NASDAQ:CASH) were recently published by: Marketwatch.com, which released: “Meta Financial Group Inc.” on October 21, 2010. Globenewswire.com‘s article titled: “Meta Financial Group, Inc.® Announces Pricing of $75 Million Subordinated Notes” and published on August 11, 2016 is yet another important article.
CASH Company Profile
Meta Financial Group, Inc., incorporated on June 14, 1993, is a unitary savings and loan holding company. The Firm operates through its banking subsidiary, MetaBank (the Bank). 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 firm providing services on a nationwide basis. The Company’s divisions include Retail Banking and Meta Payment Systems (MPS). The Retail Banking segment includes AFS/IBEX Financial Services Inc. (AFS/IBEX). It operates as a traditional community bank providing deposit, loan and other related products to individuals and small businesses, primarily in the communities where its offices are located. MPS provides a range of services and products to financial institutions and other businesses, including issuance of prepaid debit cards, sponsorship of automated teller machines (ATM) into the debit networks, credit programs, automated clearing house (ACH) origination services, gift card programs, rebate programs, travel programs and tax-related programs and services. The Bank operates approximately 10 full-service branch banking offices in four market areas in Iowa and South Dakota: Northwest Iowa, Brookings, Central Iowa and Sioux Empire, one non-retail service branch in Memphis, Tennessee, and three non-branch offices located in Texas, California and Kentucky related to the Bank’s AFS/IBEX and Refund Advantage operations.
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