Green Dot (NYSE:GDOT) Upgraded to Hold at Zacks Research

Green Dot (NYSE:GDOT) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Green Dot presently has an average rating of “Hold” and a consensus price target of $16.12.

Green Dot Trading Down 0.7%

GDOT opened at $12.32 on Tuesday. The firm has a market cap of $701.95 million, a P/E ratio of -24.15 and a beta of 0.83. Green Dot has a 12 month low of $10.10 and a 12 month high of $13.75. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $13.06 and a 200 day moving average of $12.82.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Monday, August 10th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). Green Dot had a positive return on equity of 6.92% and a negative net margin of 1.14%. The company had revenue of $591.29 million for the quarter, compared to the consensus estimate of $541.16 million. As a group, research analysts forecast that Green Dot will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Green Dot

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Green Dot by 7.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,058,944 shares of the financial services provider’s stock worth $34,322,000 after acquiring an additional 222,293 shares during the last quarter. Newtyn Management LLC boosted its stake in shares of Green Dot by 743.7% during the 2nd quarter. Newtyn Management LLC now owns 1,203,203 shares of the financial services provider’s stock worth $16,255,000 after purchasing an additional 1,060,598 shares during the period. Walmart Inc. purchased a new position in shares of Green Dot during the 2nd quarter worth about $13,172,000. M3F Inc. purchased a new position in shares of Green Dot during the 1st quarter worth about $8,402,000. Finally, Assenagon Asset Management S.A. grew its holdings in Green Dot by 747.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 474,968 shares of the financial services provider’s stock valued at $5,329,000 after purchasing an additional 418,906 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

About Green Dot

Green Dot Corporation is a financial technology and bank holding company that provides digital banking, prepaid debit card, payment processing and money-movement services in the United States. Through its subsidiary, Green Dot Bank, the company offers FDIC-insured banking products and supports consumers who may be underserved by traditional financial institutions.

The company’s products include checking accounts, debit cards, direct-deposit services, cash deposits, bill payment, mobile banking tools and tax-related financial services.