SunTrust Banks reaffirmed their buy rating on shares of Green Dot (NYSE:GDOT) in a report released on Friday morning. The brokerage currently has a $72.00 target price on the financial services provider’s stock.
A number of other research analysts also recently weighed in on the company. Zacks Investment Research raised Green Dot from a hold rating to a buy rating and set a $71.00 price target on the stock in a research note on Monday, November 13th. Citigroup downgraded Green Dot from a buy rating to a neutral rating and set a $66.00 price target on the stock. in a research note on Monday, November 13th. Cowen reissued a hold rating and issued a $55.00 price target on shares of Green Dot in a research note on Friday, January 12th. BTIG Research raised Green Dot from a neutral rating to a buy rating and set a $65.00 price target on the stock in a research note on Wednesday, November 8th. Finally, ValuEngine downgraded Green Dot from a buy rating to a hold rating in a research note on Friday, December 1st. Seven investment 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 stock. Green Dot presently has an average rating of Buy and a consensus target price of $62.08.
Green Dot (NYSE:GDOT) traded down $0.10 during trading hours on Friday, reaching $66.20. The company’s stock had a trading volume of 664,490 shares, compared to its average volume of 384,801. Green Dot has a 12-month low of $28.59 and a 12-month high of $69.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 0.99. The firm has a market cap of $3,369.37, a P/E ratio of 40.37 and a beta of 0.87.
Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $212.99 million for the quarter, compared to the consensus estimate of $206.07 million. Green Dot had a return on equity of 12.32% and a net margin of 9.65%. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS. analysts forecast that Green Dot will post 2.2 EPS for the current fiscal year.
In related news, CAO Jess Unruh sold 5,670 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $65.00, for a total value of $368,550.00. Following the completion of the sale, the chief accounting officer now owns 99,075 shares in the company, valued at approximately $6,439,875. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven W. Streit sold 20,615 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $59.08, for a total transaction of $1,217,934.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 310,191 shares of company stock valued at $18,818,357. 11.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GDOT. Eagle Asset Management Inc. bought a new stake in shares of Green Dot in the 4th quarter valued at $82,309,000. Carillon Tower Advisers Inc. bought a new stake in shares of Green Dot in the 4th quarter valued at $57,764,000. Rothschild Asset Management Inc. bought a new stake in shares of Green Dot in the 3rd quarter valued at $29,051,000. BlackRock Inc. increased its position in shares of Green Dot by 8.2% in the 4th quarter. BlackRock Inc. now owns 6,457,247 shares of the financial services provider’s stock valued at $389,113,000 after buying an additional 490,902 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Green Dot by 2,582.7% in the 4th quarter. OppenheimerFunds Inc. now owns 322,455 shares of the financial services provider’s stock valued at $19,432,000 after buying an additional 310,435 shares in the last quarter. Institutional investors and hedge funds own 84.60% of the company’s stock.
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About Green Dot
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.
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