BTIG Research Reaffirms Buy Rating for Green Dot (NYSE:GDOT)

BTIG Research reaffirmed their buy rating on shares of Green Dot (NYSE:GDOT) in a research note issued to investors on Sunday, The Fly reports. The brokerage currently has a $56.00 price objective on the financial services provider’s stock, up from their previous price objective of $48.00.

Other analysts have also issued research reports about the company. SunTrust Banks increased their price objective on Green Dot from $40.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, May 12th. ValuEngine lowered Green Dot from a buy rating to a hold rating in a research note on Friday, May 1st. Jefferies Financial Group reaffirmed a hold rating and issued a $32.00 price target on shares of Green Dot in a research note on Tuesday, May 12th. JPMorgan Chase & Co. dropped their price target on Green Dot from $30.00 to $27.00 and set a neutral rating for the company in a research note on Tuesday, May 12th. Finally, Barclays dropped their price target on Green Dot from $42.00 to $39.00 and set an overweight rating for the company in a research note on Monday, May 4th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $37.69.

NYSE:GDOT opened at $49.08 on Friday. The firm has a market cap of $2.45 billion, a PE ratio of 32.08 and a beta of 1.08. Green Dot has a fifty-two week low of $14.20 and a fifty-two week high of $51.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50 day moving average price of $38.43 and a 200-day moving average price of $30.41.

Green Dot (NYSE:GDOT) last released its quarterly earnings data on Monday, May 11th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.34. The firm had revenue of $362.20 million during the quarter, compared to analyst estimates of $324.12 million. Green Dot had a return on equity of 11.35% and a net margin of 7.32%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 earnings per share. Research analysts predict that Green Dot will post 0.89 EPS for the current year.

In other news, Director Jeffrey Osher acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $36.76 per share, for a total transaction of $919,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Bibelheimer sold 12,806 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $40.00, for a total value of $512,240.00. The disclosure for this sale can be found here. In the last quarter, insiders acquired 40,250 shares of company stock valued at $1,451,655. 4.80% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of GDOT. State Street Corp increased its holdings in shares of Green Dot by 1.1% during the fourth quarter. State Street Corp now owns 1,550,622 shares of the financial services provider’s stock valued at $36,129,000 after acquiring an additional 17,349 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Green Dot by 23.7% during the fourth quarter. Victory Capital Management Inc. now owns 11,734 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 2,250 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Green Dot by 8.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 392,994 shares of the financial services provider’s stock valued at $9,157,000 after acquiring an additional 31,387 shares in the last quarter. FMR LLC increased its holdings in shares of Green Dot by 2,806.2% during the fourth quarter. FMR LLC now owns 47,749 shares of the financial services provider’s stock valued at $1,112,000 after acquiring an additional 46,106 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Green Dot by 48.7% during the fourth quarter. Bank of Montreal Can now owns 14,612 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 4,787 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Green Dot Company Profile

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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Analyst Recommendations for Green Dot (NYSE:GDOT)

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