Northland Securities upgraded shares of Green Dot (NYSE:GDOT) from a market perform rating to an outperform rating in a research note released on Friday, AnalystRatings.com reports. The brokerage currently has $29.00 price objective on the financial services provider’s stock.
GDOT has been the topic of a number of other reports. Zacks Investment Research raised shares of Green Dot from a sell rating to a hold rating and set a $29.00 price target on the stock in a research note on Tuesday, August 13th. Canaccord Genuity began coverage on shares of Green Dot in a research note on Thursday, September 12th. They issued a hold rating and a $29.00 price target on the stock. ValuEngine raised shares of Green Dot from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Guggenheim raised shares of Green Dot from a neutral rating to a buy rating in a research note on Friday, August 9th. Finally, Deutsche Bank dropped their price target on shares of Green Dot from $44.00 to $29.00 and set a hold rating on the stock in a research note on Thursday, August 8th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Green Dot has an average rating of Hold and an average price target of $49.23.
Shares of NYSE GDOT traded up $0.15 during mid-day trading on Friday, reaching $24.41. The company had a trading volume of 404,556 shares, compared to its average volume of 784,689. Green Dot has a twelve month low of $22.45 and a twelve month high of $93.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $1.24 billion, a PE ratio of 9.65 and a beta of 1.11. The stock’s 50 day moving average is $27.25 and its 200-day moving average is $44.96.
Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.33. Green Dot had a net margin of 10.81% and a return on equity of 16.77%. The business had revenue of $278.33 million for the quarter, compared to the consensus estimate of $266.93 million. During the same period in the prior year, the business posted $0.74 earnings per share. Green Dot’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Green Dot will post 2.18 EPS for the current year.
In related news, CRO Brett Narlinger sold 5,602 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $28.32, for a total value of $158,648.64. Following the completion of the sale, the executive now directly owns 71,624 shares in the company, valued at $2,028,391.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GDOT. Coatue Management LLC bought a new stake in Green Dot during the second quarter valued at about $61,188,000. BlackRock Inc. boosted its holdings in Green Dot by 6.4% during the second quarter. BlackRock Inc. now owns 6,140,997 shares of the financial services provider’s stock valued at $300,294,000 after acquiring an additional 370,866 shares during the period. Nuveen Asset Management LLC boosted its holdings in Green Dot by 1,544.7% during the second quarter. Nuveen Asset Management LLC now owns 333,670 shares of the financial services provider’s stock valued at $16,317,000 after acquiring an additional 313,383 shares during the period. Rice Hall James & Associates LLC bought a new stake in Green Dot during the second quarter valued at about $14,555,000. Finally, Point72 Asset Management L.P. boosted its holdings in Green Dot by 134.2% during the second quarter. Point72 Asset Management L.P. now owns 410,861 shares of the financial services provider’s stock valued at $20,091,000 after acquiring an additional 235,436 shares during the period. Institutional investors own 89.78% of the company’s stock.
Green Dot Company Profile
Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates in two segments, Account Services, and Processing and Settlement Services. The company offers deposit account programs, such network-branded reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer and small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.
Read More: Why does the United States have a lingering trade deficit?
Receive News & Ratings for Green Dot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot and related companies with MarketBeat.com's FREE daily email newsletter.