Meta Financial Group (CASH) Declares $0.05 Dividend

Meta Financial Group said on March 2, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.

Shares must be purchased before the ex-div date of March 10, 2023 to qualify for the dividend. Shareholders of record as of March 13, 2023 will receive the payment on April 3, 2023.

At the current share price of $50.02 / share, the stock's dividend yield is 0.40%. Looking back five years and taking a sample every week, the average dividend yield has been 0.62%, the lowest has been 0.31%, and the highest has been 1.31%. The standard deviation of yields is 0.24 (n=236).

The current dividend yield is 0.94 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.04. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 9.10% Upside

As of March 4, 2023, the average one-year price target for Meta Financial Group is $54.57. The forecasts range from a low of $49.49 to a high of $60.90. The average price target represents an increase of 9.10% from its latest reported closing price of $50.02.

The projected annual revenue for Meta Financial Group is $667MM, an increase of 20.18%. The projected annual non-GAAP EPS is $5.59.

What is the Fund Sentiment?

There are 474 funds or institutions reporting positions in Meta Financial Group. This is a decrease of 29 owner(s) or 5.77% in the last quarter. Average portfolio weight of all funds dedicated to CASH is 0.22%, an increase of 27.68%. Total shares owned by institutions decreased in the last three months by 1.33% to 28,334K shares. The put/call ratio of CASH is 0.52, indicating a bullish outlook.

What are large shareholders doing?

Vectors Research Management holds 2,410K shares representing 8.74% ownership of the company.

IJR - iShares Core S&P Small-Cap ETF holds 2,039K shares representing 7.40% ownership of the company. In it's prior filing, the firm reported owning 2,078K shares, representing a decrease of 1.92%. The firm increased its portfolio allocation in CASH by 16.59% over the last quarter.

Nantahala Capital Management holds 1,301K shares representing 4.72% ownership of the company. In it's prior filing, the firm reported owning 1,328K shares, representing a decrease of 2.06%. The firm increased its portfolio allocation in CASH by 28.18% over the last quarter.

Goldman Sachs Group holds 1,064K shares representing 3.86% ownership of the company. In it's prior filing, the firm reported owning 970K shares, representing an increase of 8.84%. The firm increased its portfolio allocation in CASH by 38.72% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 892K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 823K shares, representing an increase of 7.77%. The firm increased its portfolio allocation in CASH by 30.78% over the last quarter.

Pathward Financial Background Information
(This description is provided by the company.)

MetaBank®, N.A., a national bank, is a subsidiary of Meta Financial Group, Inc.®, a South Dakota-based financial holding company. MetaBank, is a financial enablement company that works to increase financial availability, choice, and opportunity for all. MetaBank strives to remove barriers that traditional institutions put in the way of financial access, and promote economic mobility by providing responsible, secure, high quality financial products that contribute to individuals and communities at the core of the real economy.

This story originally appeared on Fintel.