Municipal Employees Retirement System of Michigan lifted its holdings in Meta Financial Group Inc. (NASDAQ:CASH) by 342.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,540 shares of the savings and loans company’s stock after buying an additional 27,510 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Meta Financial Group were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Meta Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 896 shares of the savings and loans company’s stock worth $25,000 after buying an additional 649 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Meta Financial Group by 99.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,862 shares of the savings and loans company’s stock worth $80,000 after purchasing an additional 1,427 shares during the period. BNP Paribas Arbitrage SA raised its stake in Meta Financial Group by 96,733.3% during the first quarter. BNP Paribas Arbitrage SA now owns 5,810 shares of the savings and loans company’s stock worth $114,000 after purchasing an additional 5,804 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Meta Financial Group during the second quarter worth about $115,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Meta Financial Group by 1,351.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,012 shares of the savings and loans company’s stock worth $175,000 after purchasing an additional 8,391 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

In other Meta Financial Group news, Director William David Tull sold 14,934 shares of Meta Financial Group stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $27.06, for a total transaction of $404,114.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 239,891 shares of company stock valued at $6,537,124. Company insiders own 7.69% of the company’s stock.

A number of brokerages have commented on CASH. Zacks Investment Research raised shares of Meta Financial Group from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research note on Thursday, August 1st. BidaskClub raised shares of Meta Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, B. Riley raised shares of Meta Financial Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $25.00 to $33.00 in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $35.33.

Shares of CASH stock opened at $28.94 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average price is $28.14. Meta Financial Group Inc. has a 12 month low of $17.84 and a 12 month high of $31.61. The stock has a market capitalization of $1.10 billion, a P/E ratio of 10.30 and a beta of 1.27.

Meta Financial Group (NASDAQ:CASH) last announced its quarterly earnings results on Tuesday, July 30th. The savings and loans company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.25. Meta Financial Group had a net margin of 16.57% and a return on equity of 11.64%. The business had revenue of $110.76 million during the quarter. As a group, analysts anticipate that Meta Financial Group Inc. will post 2.79 earnings per share for the current fiscal year.

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.

Featured Story: Dead Cat Bounce

Want to see what other hedge funds are holding CASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Financial Group Inc. (NASDAQ:CASH).

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.