Zacks Investment Research lowered shares of Green Dot Corporation (NYSE:GDOT) from a strong-buy rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “Green Dot Corporation is a technology-centric, pro-consumer Bank Holding Company with a mission to reinvent personal banking for the masses. The company is the largest provider of prepaid debit card products and prepaid card reloading services in the United States, as well as a leader in mobile banking with its GoBank mobile bank account offering. Green Dot Corporation products are available to consumers at more than 80,000 retailers nationwide, online and via the leading app stores. The company is headquartered in Pasadena, California with its bank subsidiary, Green Dot Bank, located in Provo, Utah. “
A number of other equities analysts have also weighed in on the stock. Citigroup Inc. boosted their price objective on shares of Green Dot Corporation from $48.00 to $54.00 and gave the company a buy rating in a research report on Monday, September 18th. BidaskClub lowered shares of Green Dot Corporation from a strong-buy rating to a buy rating in a research report on Thursday, September 14th. ValuEngine raised shares of Green Dot Corporation from a hold rating to a buy rating in a research report on Friday, September 1st. 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, SunTrust Banks, Inc. reissued a buy rating on shares of Green Dot Corporation in a research report on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Green Dot Corporation currently has a consensus rating of Buy and a consensus price target of $45.91.
Shares of Green Dot Corporation (NYSE:GDOT) opened at 54.71 on Tuesday. The stock has a market cap of $2.76 billion, a PE ratio of 46.52 and a beta of 1.00. Green Dot Corporation has a 1-year low of $21.45 and a 1-year high of $55.57. The stock has a 50 day moving average of $48.90 and a 200 day moving average of $40.60.
Green Dot Corporation (NYSE:GDOT) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $222.50 million during the quarter, compared to analyst estimates of $208.59 million. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The company’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities research analysts forecast that Green Dot Corporation will post $2.05 EPS for the current year.
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In related news, Director Kenneth C. Aldrich sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $49.54, for a total value of $495,400.00. Following the completion of the sale, the director now directly owns 20,563 shares in the company, valued at $1,018,691.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven W. Streit sold 7,995 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $50.90, for a total transaction of $406,945.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,297 shares of company stock valued at $7,127,934. 11.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. purchased a new stake in Green Dot Corporation during the second quarter worth approximately $108,000. IFP Advisors Inc grew its stake in Green Dot Corporation by 5,537.3% during the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock worth $111,000 after buying an additional 2,824 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Green Dot Corporation during the first quarter worth approximately $118,000. Turner Investments LLC purchased a new stake in Green Dot Corporation during the second quarter worth approximately $154,000. Finally, Riverhead Capital Management LLC grew its stake in Green Dot Corporation by 55.0% during the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,429 shares during the period. Institutional investors own 77.43% of the company’s stock.
Green Dot Corporation 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.
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