Green Dot (GDOT) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Green Dot (NYSE:GDOT) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat Ratings reports. Citigroup currently has $68.00 price target on the financial services provider’s stock, up from their prior price target of $66.00.

Several other brokerages also recently weighed in on GDOT. 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 report on Monday, November 13th. Cowen reaffirmed a hold rating and set a $52.00 price target on shares of Green Dot in a research report on Friday, November 10th. Deutsche Bank raised their target price on Green Dot from $42.00 to $54.00 and gave the company a hold rating in a research report on Wednesday, November 8th. Morgan Stanley set a $60.00 target price on Green Dot and gave the company a hold rating in a research report on Monday, November 20th. Finally, Guggenheim restated a buy rating on shares of Green Dot in a research report on Wednesday, January 10th. 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. The stock currently has a consensus rating of Buy and a consensus target price of $55.69.

Shares of Green Dot (GDOT) opened at $60.44 on Tuesday. The firm has a market capitalization of $3,058.35, a PE ratio of 35.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.96 and a current ratio of 0.96. Green Dot has a 12-month low of $26.21 and a 12-month high of $65.88.

In related news, insider Steven W. Streit sold 20,615 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $59.08, for a total value of $1,217,934.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark L. Shifke sold 6,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $55.96, for a total transaction of $363,740.00. Following the completion of the transaction, the chief financial officer now directly owns 713,333 shares in the company, valued at $39,918,114.68. The disclosure for this sale can be found here. Insiders have sold a total of 311,028 shares of company stock worth $18,870,328 over the last 90 days. Insiders own 11.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Suntrust Banks Inc. lifted its stake in 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 in the last quarter. Ameritas Investment Partners Inc. lifted its stake in 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 in the last quarter. Bfsg LLC lifted its stake in 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 in the last quarter. LS Investment Advisors LLC lifted its stake in 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 in the last quarter. 78.53% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Green Dot (NYSE:GDOT)

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