Meta Financial Group Inc. (NASDAQ:CASH) declared a quarterly dividend on Thursday, May 30th, Wall Street Journal reports. Stockholders of record on Monday, June 10th will be paid a dividend of 0.05 per share by the savings and loans company on Monday, July 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, June 7th.
Meta Financial Group has raised its dividend payment by an average of 1.3% annually over the last three years. Meta Financial Group has a dividend payout ratio of 3.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Meta Financial Group to earn $3.38 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 5.9%.
Shares of CASH traded down $0.16 during trading hours on Friday, hitting $28.05. 317,891 shares of the stock traded hands, compared to its average volume of 343,890. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.12. Meta Financial Group has a 1-year low of $17.84 and a 1-year high of $33.92. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 9.98 and a beta of 1.32. The firm has a fifty day simple moving average of $27.29.
In other news, Director Michael Robert Kramer sold 4,408 shares of Meta Financial Group stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $26.00, for a total transaction of $114,608.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William David Tull sold 22,200 shares of Meta Financial Group stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $25.82, for a total transaction of $573,204.00. The disclosure for this sale can be found here. Insiders sold 221,556 shares of company stock valued at $5,980,897 over the last 90 days. 7.69% of the stock is currently owned by company insiders.
CASH has been the topic of a number of research analyst reports. BidaskClub cut Meta Financial Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 12th. Zacks Investment Research upgraded shares of Meta Financial Group from a “sell” rating to a “hold” rating in a report on Friday, April 12th. Finally, B. Riley upgraded shares of Meta Financial Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $33.00 in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $34.75.
About Meta Financial Group
Meta Financial Group, Inc operates as the holding company for MetaBank that offers various banking products and services in the United States. The company accepts various deposit products, including statement savings accounts, money market savings accounts, negotiable order of withdrawal accounts, and checking accounts; and deposits related to prepaid cards, which primarily comprise checking accounts and certificate accounts.
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