Washington, D.C. 20549

Meta Financial Group, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

59100U108

(CUSIP Number)

December 31, 2010

(Date of Event Which Requires Filing of this Statement)

 

 

CUSIP No.		59100U108

**SEE ITEM 4(b).

CUSIP No.		59100U108

**SEE ITEM 4(b).

CUSIP No.		59100U108

**SEE ITEM 4(b).

CUSIP No.		59100U108

**SEE ITEM 4(b).

CUSIP No.		59100U108

**SEE ITEM 4(b).

SCHEDULE 13G

This Amendment No. 1 to the Schedule 13G (this “Amendment”) relates to shares of Common Stock, par value $0.01 per share (“Common Stock”), of Meta Financial Group, Inc., a Delaware corporation (the “Issuer”), and is being filed on behalf of (i) Teton Capital Partners, L.P. (the “Fund”), a Texas limited partnership, (ii) Ancient Art, L.P. (“Ancient Art”), a Texas limited partnership, as the investment manager to the Fund, (iii) Whitney, L.P. (“Whitney”), a Texas limited partnership, as the general partner of the Fund, (iv) Trango II, L.L.C. (“Trango”), a Texas limited liability company, as the general partner of both Ancient Art and Whitney, and (v) Quincy J. Lee, the principal of Trango (the persons mentioned in (ii), (iii), (iv) and (v) above are referred to herein as the “Teton Management Group,” and, collectively with the Fund, the “Reporting Persons”). All shares of Common Stock are held by the Fund.

Item 1(a)		Name of Issuer.
		Meta Financial Group, Inc.
Item 1(b)		Address of Issuer’s Principal Executive Offices.
		121 East Fifth Street
		Storm Lake, Iowa 50588
Item 2(a)		Name of Person Filing.
		(i) Teton Capital Partners, L.P. (the “Fund”), (ii) Ancient Art, L.P. (“Ancient Art”), (iii) Whitney, L.P. (“Whitney”), (iv) Trango II, L.L.C. (“Trango”) and (v) Quincy J. Lee.
Item 2(b)		Address of Principal Business Office, or, if none, Residence.
		610 West 5th Street, Suite 600
		Austin, Texas 78701
Item 2(c)		Citizenship or Place of Organization.
		The Fund is a Texas limited partnership. Ancient Art is a Texas limited partnership. Whitney is a Texas limited partnership. Trango is a Texas limited liability company. Mr. Lee is a United States citizen.
Item 2(d)		Title of Class of Securities.
		Common Stock, par value $0.01 per share (the “Common Stock”)
Item 2(e)		CUSIP Number.
		59100U108

Item 3				If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)		o		Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b)		o		Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)		o		Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
(d)		o		Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e)		þ		An investment advisor in accordance with §240.13d-1(b)(1)(ii)(E).
(f)		o		An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F).
(g)		o		A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).
(h)		o		A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
(i)		o		A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).
(j)		o		Group, in accordance with §240.13d-1(b)(1)(ii)(J).
Item 4				Ownership.
				(a)		The Fund may be deemed the beneficial owner of 41,667 shares of Common Stock it holds. The Teton Management Group may be deemed the beneficial owner of 41,667 shares of Common Stock held by the Fund.
				(b)		The Fund may be deemed the beneficial owner of 1.3%, and the Teton Management Group may be deemed the beneficial owner of 1.3%, respectively, of the Issuer’s outstanding shares of Common Stock. These percentages were calculated by dividing (i) 41,667, the number of shares of Common Stock held by the Fund, by (ii) 3,112,463, the number shares of Common Stock issued and outstanding as of December 10, 2010, as reported in the Issuer’s most recent Form 10-K filed with the Securities and Exchange Commission on December 13, 2010.
				(c)		The Fund has the sole power to vote and dispose of the 41,667 shares of Common Stock it holds. The Teton Management Group has the shared power to vote and dispose of the 41,667 shares of Common Stock held by Fund.

Item 5		Ownership of Five Percent or Less of a Class.
		If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owners of more than five percent of the class of securities, check the following þ.
Item 6		Ownership of More Than Five Percent on Behalf of Another Person.
		Inapplicable.
Item 7		Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.
		Inapplicable.
Item 8		Identification and Classification of Members of the Group.
		Inapplicable.
Item 9		Notice of Dissolution of Group.
		Inapplicable.
Item 10		Certification.
		By signing below each of the Reporting Persons certifies that, to the best of such person’s knowledge and belief, the securities referred to above were acquired and held in the ordinary course of business and were not acquired and were not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
Exhibits		Exhibit 1
		Joint Filing Agreement by and among the Reporting Persons.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 14, 2011