Green Dot Corporation (NYSE:GDOT)‘s stock had its “buy” rating reissued by investment analysts at Citigroup Inc. in a research note issued on Monday, July 24th. They currently have a $46.00 price objective on the financial services provider’s stock, up from their previous price objective of $40.00. Citigroup Inc.’s price objective would suggest a potential upside of 2.50% from the company’s current price.
A number of other analysts also recently commented on GDOT. Zacks Investment Research downgraded shares of Green Dot Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. Jefferies Group LLC restated a “buy” rating and set a $42.00 target price on shares of Green Dot Corporation in a research report on Monday, May 22nd. Lake Street Capital started coverage on shares of Green Dot Corporation in a research report on Monday, June 26th. They issued a “hold” rating and a $41.00 price objective for the company. Finally, Keefe, Bruyette & Woods set a $37.00 price objective on shares of Green Dot Corporation and gave the company a “hold” rating in a research report on Thursday, July 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $40.44.
Green Dot Corporation (NYSE GDOT) traded down 3.03% on Monday, reaching $44.88. The company’s stock had a trading volume of 623,019 shares. Green Dot Corporation has a one year low of $21.45 and a one year high of $46.88. The company has a market capitalization of $2.26 billion, a PE ratio of 38.16 and a beta of 1.06. The firm has a 50-day moving average of $40.09 and a 200-day moving average of $34.67.
Green Dot Corporation (NYSE:GDOT) last released its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The firm had revenue of $222.50 million for the quarter, compared to the consensus estimate of $208.59 million. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The firm’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Analysts predict that Green Dot Corporation will post $2.05 EPS for the current year.
In other news, COO Kuan Archer sold 12,356 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $40.22, for a total transaction of $496,958.32. Following the completion of the transaction, the chief operating officer now owns 117,024 shares in the company, valued at approximately $4,706,705.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel John C. Ricci sold 3,686 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $35.97, for a total transaction of $132,585.42. Following the transaction, the general counsel now owns 90,032 shares of the company’s stock, valued at approximately $3,238,451.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,287 shares of company stock worth $7,067,076. 11.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Green Dot Corporation by 0.7% in the second quarter. BlackRock Inc. now owns 5,348,171 shares of the financial services provider’s stock worth $206,067,000 after buying an additional 38,814 shares during the period. Vanguard Group Inc. raised its stake in Green Dot Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 4,091,807 shares of the financial services provider’s stock worth $136,503,000 after buying an additional 412,984 shares during the period. Dimensional Fund Advisors LP raised its stake in Green Dot Corporation by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,753,768 shares of the financial services provider’s stock worth $91,865,000 after buying an additional 19,113 shares during the period. Copper Rock Capital Partners LLC bought a new stake in Green Dot Corporation during the first quarter worth about $33,520,000. Finally, State Street Corp raised its position in shares of Green Dot Corporation by 7.1% in the first quarter. State Street Corp now owns 999,048 shares of the financial services provider’s stock valued at $33,324,000 after buying an additional 65,849 shares during the last quarter. 81.21% of the stock is owned by institutional investors and hedge funds.
About Green Dot Corporation
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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