B.Riley FBR Reiterates Their Buy Rating on Meta Financial Group


In a report released today, Steve Moss from B.Riley FBR reiterated a Buy rating on Meta Financial Group (NASDAQ: CASH), with a price target of $132. The company’s shares closed yesterday at $105.50.

Moss said:

“Meta (CASH) disclosed that ReliaMax, the firm that insured its $189M student loan portfolio (12% of total loans), is insolvent and is expected to be liquidated by the of Insurance. This will require Meta to build a reserve for the student loan portfolio and provide in the future for credit losses, net the potential recovery of unearned premiums. The disclosure is a disappointment: It reduces Meta’s earnings outlook, at a time when expenses are elevated as a result of significant franchise investments. We reiterate our Buy rating, but we reduce our price target, from $135 to $132, due to our revised estimates.”

According to TipRanks.com, Moss is a 5-star analyst with an average return of 12.9% and a 80.6% success rate. Moss covers the Financial sector, focusing on stocks such as Seacoast Banking Corporation Of Florida, Banc of California, and Regions Financial.

Meta Financial Group has an analyst consensus of Moderate Buy, with a price target consensus of $132.

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Based on Meta Financial Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $31.44 million. In comparison, last year the company had a net profit of $32.14 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock.

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Meta Financial Group, Inc. operates as a financial holding company, which provides savings and loan services. The company operates through three segments: Payments, Banking, and Corporate Services & Other. The Payments segment provides MPS, refund advantage, EPS, SCS, and other tax services. The Banking segment provides lending and retail bank services.

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