Green Dot (NYSE:GDOT) Sets New 1-Year Low at $24.19

Green Dot Co. (NYSE:GDOT)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $24.19 and last traded at $24.66, with a volume of 931903 shares traded. The stock had previously closed at $25.25.

Several brokerages have recently commented on GDOT. Northland Securities set a $35.00 price target on shares of Green Dot and gave the stock a “hold” rating in a research note on Friday, September 13th. Deutsche Bank dropped their price target on shares of Green Dot from $44.00 to $29.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Keefe, Bruyette & Woods downgraded shares of Green Dot from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $60.00 to $35.00 in a research report on Thursday, August 8th. Jefferies Financial Group downgraded shares of Green Dot from a “buy” rating to a “hold” rating and lowered their target price for the stock from $62.00 to $32.00 in a research report on Thursday, September 5th. Finally, Barclays set a $41.00 target price on shares of Green Dot and gave the stock a “buy” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Green Dot currently has an average rating of “Hold” and a consensus price target of $49.69.

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $28.50 and its 200-day moving average is $46.75. The firm has a market capitalization of $1.31 billion, a P/E ratio of 9.75 and a beta of 1.11.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.33. Green Dot had a net margin of 10.81% and a return on equity of 16.77%. The company had revenue of $278.33 million during the quarter, compared to analysts’ expectations of $266.93 million. During the same period in the prior year, the company earned $0.74 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Green Dot Co. will post 2.18 EPS for the current year.

In other Green Dot news, CRO Brett Narlinger sold 5,602 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at $2,028,391.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.80% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Retirement Systems of Alabama lifted its stake in shares of Green Dot by 0.4% in the second 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. lifted its position 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 worth $65,000 after acquiring an additional 371 shares during the period. Profund Advisors LLC lifted its position 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 worth $297,000 after acquiring an additional 515 shares during the period. Arizona State Retirement System lifted its position in Green Dot by 1.5% in the second quarter. Arizona State Retirement System now owns 34,720 shares of the financial services provider’s stock worth $1,698,000 after purchasing an additional 522 shares during the period. Finally, Pitcairn Co. lifted its position in Green Dot by 10.0% in the second quarter. Pitcairn Co. now owns 6,558 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 595 shares during the period. Hedge funds and other institutional investors own 89.58% of the company’s stock.

About Green Dot (NYSE:GDOT)

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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