Zacks Investment Research upgraded shares of Green Dot (NYSE:GDOT) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The brokerage currently has $52.00 target price on the financial services provider’s stock.
According to Zacks, “Green Dot’s long-term strategic plan to be a ‘New Kind of Bank’ is leading to impressive results. Strength across established product lines and BaaS platform programs act as key growth catalysts. The company’s Banking as a Service or BaaS platform programs are growing very quickly and contributing significantly to its GDV growth, active card growth and revenue growth. Its extended relationship with Walmart is another growth catalyst. Despite such positives, Green Dot faces tough competition from companies across financial services, financial technology services, retail banking, transaction processing and consumer technology industries. It experiences fluctuation in revenues due to seasonal factors. The company does not have any plans to pay cash dividends on common stock. Green Dot’s stock has declined in the past year.”
Other research analysts have also issued research reports about the stock. Citigroup upgraded shares of Copa from a neutral rating to a buy rating in a report on Thursday, May 9th. Guggenheim restated a buy rating and issued a $40.00 price target on shares of National Vision in a report on Thursday, May 9th. Northland Securities restated a buy rating and issued a $55.00 price target on shares of Heron Therapeutics in a report on Thursday, May 9th. SunTrust Banks raised their price target on shares of Match Group to $62.00 and gave the company a hold rating in a report on Thursday, May 9th. Finally, Needham & Company LLC restated a buy rating and issued a $26.00 price target (down previously from $27.00) on shares of Nlight in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $81.21.
Shares of NYSE GDOT opened at $48.64 on Tuesday. The firm has a market cap of $2.61 billion, a PE ratio of 18.64 and a beta of 0.97. Green Dot has a 52 week low of $41.67 and a 52 week high of $93.00. The company has a 50-day simple moving average of $48.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.04 and a current ratio of 1.04.
Green Dot (NYSE:GDOT) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.10. Green Dot had a net margin of 10.56% and a return on equity of 15.74%. The company had revenue of $340.51 million for the quarter, compared to analysts’ expectations of $330.17 million. During the same period last year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts predict that Green Dot will post 2.11 earnings per share for the current year.
In other Green Dot news, CFO Mark L. Shifke sold 1,250 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $65.11, for a total value of $81,387.50. Following the sale, the chief financial officer now directly owns 591,740 shares in the company, valued at $38,528,191.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Konrad Alt sold 919 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $64.15, for a total value of $58,953.85. Following the completion of the sale, the insider now owns 77,643 shares in the company, valued at $4,980,798.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,657 shares of company stock valued at $1,177,363. 7.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. lifted its stake in Green Dot by 87.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 191,117 shares of the financial services provider’s stock valued at $11,591,000 after buying an additional 89,310 shares during the last quarter. Globeflex Capital L P lifted its stake in Green Dot by 72,871.4% in the first quarter. Globeflex Capital L P now owns 10,216 shares of the financial services provider’s stock valued at $620,000 after buying an additional 10,202 shares during the last quarter. Aurora Investment Counsel bought a new stake in Green Dot in the first quarter valued at $1,686,000. Amalgamated Bank lifted its stake in Green Dot by 129.0% in the fourth quarter. Amalgamated Bank now owns 7,540 shares of the financial services provider’s stock valued at $600,000 after buying an additional 4,248 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Green Dot by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 525,012 shares of the financial services provider’s stock valued at $41,748,000 after buying an additional 7,851 shares during the last quarter. Institutional investors own 86.34% of the company’s stock.
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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