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Dec 31, 2019
Meta Q1 2020 Earnings Report
Reported net income for the first quarter of fiscal year 2020.
Key Takeaways
Meta Financial Group reported a strong first quarter for fiscal year 2020, with net income increasing by 37% compared to the same period last year. The company's ongoing efforts to enhance its earning asset mix and leverage its core deposit base drove earnings growth. Meta Financial Group also announced an agreement to sell its Community Bank division to Central Bank during the quarter.
Net income for the first quarter of fiscal 2020 was $21.1 million, or $0.56 per diluted share, compared to $15.4 million, or $0.39 per diluted share, for the same period last year.
Total revenue for the fiscal 2020 first quarter was $102.1 million, compared to $98.0 million for the same quarter in fiscal 2019, representing a 4% increase.
Net interest income was $64.7 million, compared to $60.3 million in the comparable quarter in fiscal 2019.
The company repurchased 899,371 of its shares at an average price of $34.17 during the quarter.
Revenue by Segment
Forward Guidance
The Company expects full-year fiscal 2020 GAAP earnings per common share to range between $3.58 to $3.78. When excluding an expected gain on sale of the Community Bank division and the net financial impact of the sale of foreclosed property, the Company expects full-year fiscal 2020 EPS to range between $3.30 and $3.50.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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