Green Dot (NYSE:GDOT) Price Target Lowered to $40.00 at Craig Hallum

Green Dot (NYSE:GDOT) had its target price decreased by Craig Hallum from $50.00 to $40.00 in a report published on Friday, The Fly reports. Craig Hallum currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also issued reports on GDOT. Zacks Investment Research raised 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 assumed coverage on Green Dot in a research note on Thursday, September 12th. They issued a hold rating and a $29.00 price target on the stock. Keefe, Bruyette & Woods lowered Green Dot from an outperform rating to a market perform rating and decreased their price target for the stock from $60.00 to $35.00 in a research note on Thursday, August 8th. Barclays set a $41.00 price target on Green Dot and gave the stock a buy rating in a research note on Monday, August 12th. Finally, SunTrust Banks reissued a buy rating and issued a $50.00 price target on shares of Green Dot in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Green Dot currently has an average rating of Hold and an average target price of $42.83.

NYSE:GDOT traded up $1.06 during mid-day trading on Friday, reaching $25.94. The company’s stock had a trading volume of 1,125,559 shares, compared to its average volume of 793,574. The company’s fifty day simple moving average is $25.50 and its two-hundred day simple moving average is $39.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.01 and a quick ratio of 1.01. Green Dot has a twelve month low of $22.45 and a twelve month high of $85.65. The stock has a market cap of $1.27 billion, a P/E ratio of 10.25 and a beta of 1.11.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Thursday, November 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.32. Green Dot had a return on equity of 14.94% and a net margin of 10.25%. The firm had revenue of $240.40 million for the quarter, compared to analyst estimates of $232.94 million. During the same period last year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts expect that Green Dot will post 2.18 EPS for the current fiscal year.

In other news, CRO Brett Narlinger sold 5,602 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the transaction, the executive now directly owns 71,624 shares in the company, valued at approximately $2,028,391.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. KAMES CAPITAL plc raised its holdings in shares of Green Dot by 12.7% during the 2nd quarter. KAMES CAPITAL plc now owns 1,081,699 shares of the financial services provider’s stock valued at $52,884,000 after buying an additional 121,850 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Green Dot by 0.4% during 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. Copper Rock Capital Partners LLC raised its holdings in shares of Green Dot by 58.5% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 444,976 shares of the financial services provider’s stock valued at $21,759,000 after buying an additional 164,194 shares during the period. Scout Investments Inc. raised its holdings in shares of Green Dot by 94.0% during the 2nd quarter. Scout Investments Inc. now owns 107,325 shares of the financial services provider’s stock valued at $5,248,000 after buying an additional 52,009 shares during the period. Finally, Arlington Partners LLC purchased a new stake in shares of Green Dot during the 2nd quarter valued at about $391,000. Institutional investors own 79.58% of the company’s stock.

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.

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