Canaccord Genuity assumed coverage on shares of Green Dot (NYSE:GDOT) in a research report released on Thursday morning, BenzingaRatingsTable reports. The firm issued a hold rating and a $29.00 price target on the financial services provider’s stock.
GDOT has been the subject of a number of other research reports. TheStreet downgraded Green Dot from a b- rating to a c+ rating in a research report on Thursday, August 8th. Zacks Investment Research raised Green Dot from a sell rating to a hold rating and set a $29.00 target price for the company in a report on Tuesday, August 13th. Deutsche Bank dropped their target price on Green Dot from $44.00 to $29.00 and set a hold rating for the company in a report on Thursday, August 8th. Craig Hallum dropped their target price on Green Dot from $100.00 to $50.00 and set a buy rating for the company in a report on Thursday, August 8th. Finally, Jefferies Financial Group cut Green Dot from a buy rating to a hold rating and dropped their target price for the stock from $62.00 to $32.00 in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Green Dot currently has an average rating of Hold and a consensus price target of $49.69.
Shares of GDOT stock traded down $0.79 during mid-day trading on Thursday, reaching $27.09. The stock had a trading volume of 38,674 shares, compared to its average volume of 654,607. The firm’s 50 day simple moving average is $35.31 and its 200 day simple moving average is $50.04. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.03. Green Dot has a one year low of $24.19 and a one year high of $93.00. The firm has a market cap of $1.43 billion, a PE ratio of 10.71 and a beta of 1.10.
Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.33. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The company had revenue of $278.33 million during the quarter, compared to the consensus estimate of $266.93 million. During the same quarter last year, the company earned $0.74 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts forecast that Green Dot will post 2.1 earnings per share for the current fiscal year.
In related news, CRO Brett Narlinger sold 5,602 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $28.32, for a total transaction of $158,648.64. Following the completion of the sale, the executive now directly owns 71,624 shares of the company’s stock, valued at approximately $2,028,391.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama increased its stake in shares of Green Dot by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 62,223 shares of the financial services provider’s stock valued at $3,043,000 after buying an additional 226 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Green Dot by 38.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,346 shares of the financial services provider’s stock valued at $65,000 after buying an additional 371 shares during the period. Profund Advisors LLC increased its stake in shares of Green Dot by 9.3% in the 2nd quarter. Profund Advisors LLC now owns 6,077 shares of the financial services provider’s stock valued at $297,000 after buying an additional 515 shares during the period. Arizona State Retirement System increased its stake in shares of Green Dot by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 34,720 shares of the financial services provider’s stock valued at $1,698,000 after buying an additional 522 shares during the period. Finally, Pitcairn Co. increased its stake in shares of Green Dot by 10.0% in the 2nd quarter. Pitcairn Co. now owns 6,558 shares of the financial services provider’s stock valued at $321,000 after buying an additional 595 shares during the period. 90.55% of the stock is owned by hedge funds and other institutional investors.
About Green Dot
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.
Featured Article: Does the Dogs of the Dow strategy work?
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.