Green Dot (GDOT) Upgraded to “Buy” by Citigroup

Citigroup upgraded shares of Green Dot (NYSE:GDOT) from a neutral rating to a buy rating in a research report released on Tuesday. They currently have $68.00 target price on the financial services provider’s stock, up from their previous target price of $66.00.

GDOT has been the subject of several other research reports. Zacks Investment Research cut shares of Green Dot from a buy rating to a hold rating in a research report on Tuesday, January 9th. Cowen restated a hold rating and issued a $55.00 price objective on shares of Green Dot in a research report on Friday, January 12th. Deutsche Bank boosted their price objective on shares of Green Dot from $42.00 to $54.00 and gave the stock a hold rating in a research report on Wednesday, November 8th. BTIG Research upgraded shares of Green Dot from a neutral rating to a buy rating and set a $65.00 price objective for the company in a research report on Wednesday, November 8th. Finally, ValuEngine cut shares of Green Dot from a buy rating to a hold rating in a research report on Friday, December 1st. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $55.69.

Green Dot (GDOT) opened at $59.21 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.09. Green Dot has a 1 year low of $26.21 and a 1 year high of $65.88. The firm has a market cap of $2,855.58, a P/E ratio of 42.91 and a beta of 0.87.

In other Green Dot news, insider Steven W. Streit sold 7,995 shares of Green Dot stock in a transaction on Friday, November 24th. The shares were sold at an average price of $63.08, for a total transaction of $504,324.60. Following the completion of the sale, the insider now owns 176,621 shares of the company’s stock, valued at approximately $11,141,252.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven W. Streit sold 6,830 shares of Green Dot stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $56.48, for a total transaction of $385,758.40. Following the sale, the chief executive officer now directly owns 176,621 shares of the company’s stock, valued at approximately $9,975,554.08. The disclosure for this sale can be found here. Insiders have sold a total of 296,824 shares of company stock valued at $18,090,759 in the last ninety days. Company insiders own 11.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Suntrust Banks Inc. grew its holdings in shares of Green Dot by 2.4% in the 2nd quarter. Suntrust Banks Inc. now owns 7,339 shares of the financial services provider’s stock valued at $282,000 after buying an additional 175 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Green Dot by 13.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,013 shares of the financial services provider’s stock valued at $155,000 after buying an additional 472 shares during the period. Bfsg LLC grew its holdings in shares of Green Dot by 17.2% in the 4th quarter. Bfsg LLC now owns 5,731 shares of the financial services provider’s stock valued at $345,000 after buying an additional 840 shares during the period. LS Investment Advisors LLC grew its holdings in shares of Green Dot by 70.4% in the 4th quarter. LS Investment Advisors LLC now owns 2,618 shares of the financial services provider’s stock valued at $158,000 after buying an additional 1,082 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Green Dot by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 380,867 shares of the financial services provider’s stock valued at $22,950,000 after buying an additional 1,093 shares during the period. 78.53% of the stock is owned by institutional investors.

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Green Dot Company Profile

Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.

Analyst Recommendations for Green Dot (NYSE:GDOT)

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