Green Dot (NYSE:GDOT) Price Target Raised to $12.00

Green Dot (NYSE:GDOT) had its price objective hoisted by Keefe, Bruyette & Woods from $11.00 to $12.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

A number of other analysts have also weighed in on GDOT. Northland Securities upgraded Green Dot from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Wednesday, April 9th. Barclays raised their price objective on shares of Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Monday, May 12th. Craig Hallum upgraded shares of Green Dot from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Friday, March 14th. Northland Capmk upgraded shares of Green Dot from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 9th. Finally, Wall Street Zen raised Green Dot from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Green Dot Trading Down 0.1%

Shares of GDOT stock opened at $10.72 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $588.15 million, a P/E ratio of -82.42 and a beta of 0.76. Green Dot has a 12-month low of $6.12 and a 12-month high of $13.58. The firm has a 50-day moving average price of $9.94 and a 200 day moving average price of $8.96.

Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $0.70 by $0.36. Green Dot had a positive return on equity of 8.82% and a negative net margin of 0.31%. The business had revenue of $555.96 million for the quarter, compared to the consensus estimate of $503.20 million. During the same period in the previous year, the business earned $0.59 EPS. Green Dot’s revenue was up 23.6% compared to the same quarter last year. Research analysts forecast that Green Dot will post 0.87 earnings per share for the current fiscal year.

Insider Activity at Green Dot

In other Green Dot news, insider Christian Devin Ruppel sold 10,189 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $11.00, for a total value of $112,079.00. Following the transaction, the insider directly owned 253,139 shares of the company’s stock, valued at approximately $2,784,529. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Green Dot

Several institutional investors and hedge funds have recently made changes to their positions in GDOT. Brooklyn Investment Group boosted its position in shares of Green Dot by 350,400.0% in the 1st quarter. Brooklyn Investment Group now owns 3,505 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 3,504 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Green Dot in the fourth quarter valued at about $44,000. GAMMA Investing LLC boosted its holdings in Green Dot by 152.0% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider’s stock worth $48,000 after buying an additional 3,416 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Green Dot during the 4th quarter worth about $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Green Dot during the 1st quarter worth about $96,000. Institutional investors own 92.56% of the company’s stock.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.