|Over a month ago|
Meta Financial price target raised to $68 from $65 at B. Riley » 09:1310/2810/28/21
B. Riley analyst Steve…
B. Riley analyst Steve Moss raised the firm's price target on Meta Financial to $68 from $65 and reiterates a Buy rating on the shares. The company's fiscal Q4 results were messy as management ramped up internal investments in products and technology to support long-term growth, Moss tells investors in a research note. He believes Meta's banking-as-a-service business should support further multiple expansion.
Meta Financial reports Q4 EPS 50c, consensus 81c » 16:2110/2710/27/21
Reports Q4 revenue…
Reports Q4 revenue $120.2M, consensus $116.5M. Total gross loans and leases at September 30, 2021 increased $293.7 million, to $3.61 billion, or 9%, compared to September 30, 2020 and increased $112.6 million, or 3%, when compared to June 30, 2021. The increase was primarily driven by growth in commercial finance, warehouse finance and consumer finance loans partially offset by a decrease in community bank loans, which was driven by a loan sale of $75.1 million during the quarter. "MetaBank ended fiscal year 2021 on a strong note, as we made significant progress against our three key strategic initiatives, positioning the firm for continued improvement," said CEO Brett Pharr. "As we start the new fiscal year, our Banking-as-a-Service pipeline has never been stronger and we will continue to advance our mission of financial inclusion for all."
Meta Financial files automatic mixed securities shelf 16:2109/2809/28/21
Meta Financial price target raised to $65 from $55 at B. Riley » 08:4609/0809/08/21
B. Riley analyst Steve…
B. Riley analyst Steve Moss raised the firm's price target on Meta Financial to $65 from $55 and keeps a Buy rating on the shares. While he views the "unexpected retirement" of CEO Brad Hanson as "a net negative" due to Hanson's tenure and payments expertise, Moss expects a smooth transition as Brett Pharr, MetaBank's CEO, takes over. He likes Meta's commercial finance-driven loan growth, strong non-interest deposit base, and strong profitability and believes its discount to peers should narrow due to strong fundamentals, Moss tells investors.
Meta Financial announces share repurchase program for up to 6M shares » 16:1909/0709/07/21
Meta Financial announced…
Meta Financial announced that its board of directors authorized a share repurchase program to repurchase up to 6M shares of the company's outstanding common stock on or before September 30, 2024. Under its current stock repurchase program, which expires on December 31, 2022, the company has purchased 5,949,827 shares of the 7.5M total shares authorized for repurchase. The company may repurchase the remaining 1,550,173 shares under the current stock repurchase program on or before December 31, 2022.
Meta Financial CEO Brad Hanson to retire, Brett Pharr to succeed » 16:1409/0709/07/21
Meta Financial announced…
Meta Financial announced that Brad Hanson, president and CEO of the company and co-president and CEO of the company's wholly-owned subsidiary MetaBank, N.A., has informed the company's board of directors of his intention to focus on entrepreneurial and philanthropic endeavors and retire from Meta. The board of directors has appointed Brett Pharr, currently co-president and COO of MetaBank, as incoming CEO of the company and of MetaBank, N.A. He will also be appointed as a member of the boards of directors of the company and MetaBank. To help ensure a transition, Hanson will continue in his current position through September 30, when his retirement will become effective, and he will remain on the company's board until the next annual stockholders' meeting, expected to take place in February 2022. He also will serve as a strategic advisor to Meta and the boards on industry and partner relations until the end of 2022. Pharr was appointed co-president and COO of MetaBank in June 2020 and, prior to that, served as the EVP, group head of governance, risk and compliance for the company and Meta.
|Over a quarter ago|
Meta Financial price target raised to $60 from $55 at Piper Sandler » 06:2007/2907/29/21
Piper Sandler analyst…
Piper Sandler analyst Frank Schiraldi raised the firm's price target on Meta Financial to $60 from $55 and reiterates an Overweight rating on the shares. The analyst continues to see "strong growth outlook" for Meta following the Q2 beat.
Meta Financial reports Q3 EPS $1.21, consensus 93c » 16:4207/2807/28/21
Reports Q3 tangible book…
Reports Q3 tangible book value per share $16.67. Reports Q3 CET1 capital ratio 12.76%. "MetaBank performed well during the third quarter, more than doubling earnings per share, as various timing items including tax season delays, additional card fee income from government stimulus programs, and reduced provision helped enhance performance year-over-year. Our results demonstrate how MetaBank's mission of financial inclusion for all(R) is creating value for all our stakeholders, including our customers, employees and shareholders," said president and CEO Brad Hanson.
MetaBank appoints Christoper Soupal to commercial finance division president » 08:2406/2906/29/21
MetaBank announced the…
MetaBank announced the promotion of Christopher Soupal to Commercial Finance Division President. He will report to Brett Pharr, co-president and COO of MetaBank. He will lead all aspects of Commercial Finance, including the Crestmark and AFS/IBEX divisions as well as commercial operations. Soupal joined Crestmark in 2014 as national sales director of the newly formed government guaranteed lending group which he grew into an industry-leading platform providing SBA and USDA loans to niche industries.
Meta Financial reports Q2 EPS $1.84, consensus $1.57 » 16:2604/2704/27/21
Reports Q2 revenue…
Reports Q2 revenue $187.3M, consensus $191.79M. Reports Q2 CET1 capital ratio 11.24%. Reports Q2 tangible book value per share $15.31. "Our Tax Services and Payments businesses and the increased interest income from our Commercial Finance business combined to produce solid second quarter revenue results," said President and CEO Brad Hanson. "We continued to develop our Banking as a Service franchise, including the launch of a new partnership with Walgreens. During the quarter, we distributed cards for the second and third rounds of Economic Impact Payments and further developed our Environmental, Social and Governance efforts, all of which helped advance our mission of financial inclusion for all(R)."