Green Dot Corporation (NYSE:GDOT) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, August 9th, Marketbeat reports.
GDOT has been the topic of several other research reports. Zacks Investment Research cut Green Dot Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. Citigroup Inc. reaffirmed a “buy” rating and issued a $46.00 price target (up previously from $40.00) on shares of Green Dot Corporation in a report on Monday, July 24th. BidaskClub cut Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $42.00 price target on shares of Green Dot Corporation in a report on Monday, May 22nd. Finally, Keefe, Bruyette & Woods set a $37.00 price target on Green Dot Corporation and gave the company a “hold” rating in a report on Thursday, July 6th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Green Dot Corporation presently has a consensus rating of “Buy” and an average target price of $41.33.
Green Dot Corporation (GDOT) opened at 46.27 on Wednesday. The stock has a market capitalization of $2.33 billion, a P/E ratio of 39.35 and a beta of 1.06. The stock has a 50 day moving average of $41.20 and a 200 day moving average of $35.38. Green Dot Corporation has a 52-week low of $21.45 and a 52-week high of $47.55.
Green Dot Corporation (NYSE:GDOT) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $222.50 million for the quarter, compared to analysts’ expectations of $208.59 million. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, equities research analysts forecast that Green Dot Corporation will post $2.05 EPS for the current year.
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In other news, insider Steven W. Streit sold 7,995 shares of Green Dot Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $46.74, for a total value of $373,686.30. Following the sale, the insider now directly owns 217,010 shares in the company, valued at approximately $10,143,047.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel John C. Ricci sold 3,686 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $35.97, for a total value of $132,585.42. Following the completion of the transaction, the general counsel now owns 90,032 shares of the company’s stock, valued at approximately $3,238,451.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,163 shares of company stock worth $7,408,723. 11.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Green Dot Corporation by 113.5% in the first quarter. Bank of America Corp DE now owns 198,987 shares of the financial services provider’s stock worth $6,638,000 after buying an additional 105,791 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Green Dot Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 4,920 shares of the financial services provider’s stock worth $164,000 after buying an additional 130 shares during the last quarter. Comerica Bank boosted its position in shares of Green Dot Corporation by 5.1% in the first quarter. Comerica Bank now owns 49,347 shares of the financial services provider’s stock worth $1,703,000 after buying an additional 2,399 shares during the last quarter. Hartford Investment Management Co. bought a new position in shares of Green Dot Corporation during the first quarter worth about $367,000. Finally, Ronald Blue & Co. LLC bought a new position in shares of Green Dot Corporation during the first quarter worth about $215,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
About Green Dot Corporation
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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