Meta Financial Hits New 52-Week High - Analyst Blog


Shares of Meta Financial Group, Inc. ( CASH ) achieved a new 52-week high, touching $32.95 on Aug 12, 2013. The closing price of this bank holding company reflects a robust year-to-date return of 44.4%. The trading volume for the session was 0.2 million shares.

Despite the strong price appreciation, this Zacks Rank #2 (Buy) stock has plenty of upside left due to its strong estimate revisions.

Growth Drivers

Impressive fiscal third-quarter 2013 results comprising a positive earnings surprise of 32.0%, improving loan and deposit balances, strong capital position and enhanced credit quality were the primary growth drivers for Meta Financial.

On Aug 6, Meta Financial reported fiscal third-quarter earnings per share of 66 cents, surpassing the Zacks Consensus Estimate by 16 cents. Moreover, earnings were in line with the prior-year quarter figure.

The better-than-expected results were primarily driven by increased revenues resulting from higher net interest income and lower operating expenses, partially offset by declining non-interest income.

Additionally, Meta Financial has delivered positive earnings surprises in all the past 4 quarters with an average beat of 18.8%.

Estimate Revisions

For 2013, the Zacks Consensus Estimate moved north by 5.8% to $2.37 per share over the last 30 days, based on both the estimates being revised upwards. For 2014, the Zacks Consensus Estimate inched up 2.3% to $2.69 per share over the same time period.

Other better performing banks include Banner Corporation ( BANR ), Provident Financial Holdings, Inc. ( PROV ) and Washington Federal Inc. ( WAFD ). All of them carry a Zacks Rank #1 (Strong Buy).

BANNER CORP (BANR): Free Stock Analysis Report

META FINL GRP (CASH): Free Stock Analysis Report

PROVIDENT FINL (PROV): Free Stock Analysis Report

WASH FEDL INC (WAFD): Free Stock Analysis Report

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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Business , Stocks

Referenced Stocks: BANR , CASH , PROV , WAFD

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