Green Dot (NYSE:GDOT) Rating Increased to Buy at ValuEngine

Green Dot (NYSE:GDOT) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

A number of other research firms also recently weighed in on GDOT. Canaccord Genuity started coverage on Green Dot in a research report on Thursday, September 12th. They set a “hold” rating and a $29.00 target price on the stock. Craig Hallum decreased their target price on Green Dot from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Guggenheim downgraded Green Dot from a “buy” rating to a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods downgraded Green Dot from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $60.00 to $35.00 in a research report on Thursday, August 8th. Finally, Northland Securities reissued a “buy” rating and set a $35.00 target price on shares of Green Dot in a research report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Green Dot has an average rating of “Hold” and a consensus target price of $42.83.

GDOT stock opened at $25.38 on Thursday. Green Dot has a twelve month low of $22.45 and a twelve month high of $85.65. The company has a market cap of $1.32 billion, a PE ratio of 10.03 and a beta of 1.11. The business’s 50-day simple moving average is $25.46 and its 200 day simple moving average is $39.32. 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 (NYSE:GDOT) last released its earnings results on Thursday, November 7th. The financial services provider reported $0.20 earnings per share 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 business had revenue of $240.40 million for the quarter, compared to the consensus estimate of $232.94 million. During the same period last year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Green Dot will post 2.18 EPS for the current year.

In other Green Dot news, CRO Brett Narlinger sold 5,602 shares of Green Dot stock in a transaction that occurred 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 sale, the executive now directly owns 71,624 shares of the company’s stock, valued at $2,028,391.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its holdings in Green Dot by 0.4% during 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 purchasing an additional 226 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Green Dot by 38.1% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,346 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 371 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Green Dot by 9.3% in the second quarter. Profund Advisors LLC now owns 6,077 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 515 shares during the last quarter. Arizona State Retirement System raised its stake in shares of 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 valued at $1,698,000 after acquiring an additional 522 shares during the last quarter. Finally, Pitcairn Co. raised its stake in shares of Green Dot by 10.0% in the second quarter. Pitcairn Co. now owns 6,558 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 595 shares during the last quarter. 79.58% of the stock is currently owned by institutional investors.

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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