Green Dot Corporation (GDOT) Downgraded by Zacks Investment Research to Hold
Green Dot Corporation (NYSE:GDOT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Green Dot Corporation is a technology-centric, pro-consumer Bank Holding Company with a mission to reinvent personal banking for the masses. The company is the largest provider of prepaid debit card products and prepaid card reloading services in the United States, as well as a leader in mobile banking with its GoBank mobile bank account offering. Green Dot Corporation products are available to consumers at more than 80,000 retailers nationwide, online and via the leading app stores. The company is headquartered in Pasadena, California with its bank subsidiary, Green Dot Bank, located in Provo, Utah. “
Other equities research analysts have also issued reports about the stock. Jefferies Group LLC reiterated a “buy” rating and set a $42.00 price target on shares of Green Dot Corporation in a report on Monday, May 22nd. Citigroup Inc. upped their price target on shares of Green Dot Corporation from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Keefe, Bruyette & Woods set a $37.00 price target on shares of Green Dot Corporation and gave the company a “hold” rating in a report on Thursday, July 6th. Finally, Lake Street Capital initiated coverage on shares of Green Dot Corporation in a report on Monday, June 26th. They set a “hold” rating and a $41.00 price target for the company. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $34.91.
Shares of Green Dot Corporation (NYSE GDOT) traded down 0.72% during trading on Monday, reaching $39.72. 318,395 shares of the company were exchanged. Green Dot Corporation has a one year low of $21.45 and a one year high of $40.19. The stock has a 50-day moving average price of $37.81 and a 200-day moving average price of $31.38. The stock has a market capitalization of $1.98 billion, a PE ratio of 40.82 and a beta of 1.03.
Green Dot Corporation (NYSE:GDOT) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.14. Green Dot Corporation had a net margin of 6.65% and a return on equity of 10.11%. The company had revenue of $253 million during the quarter, compared to analyst estimates of $233.49 million. During the same period in the prior year, the business posted $0.78 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Analysts forecast that Green Dot Corporation will post $1.95 EPS for the current year.
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In related news, COO Kuan Archer sold 12,199 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $34.38, for a total value of $419,401.62. Following the completion of the transaction, the chief operating officer now directly owns 130,166 shares in the company, valued at approximately $4,475,107.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark L. Shifke sold 5,000 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $36.09, for a total transaction of $180,450.00. Following the completion of the transaction, the chief financial officer now owns 780,062 shares of the company’s stock, valued at $28,152,437.58. The disclosure for this sale can be found here. Insiders sold a total of 215,839 shares of company stock valued at $7,881,406 over the last 90 days. Company insiders own 11.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. James Investment Research Inc. acquired a new position in shares of Green Dot Corporation during the second quarter valued at about $2,826,000. Meeder Asset Management Inc. acquired a new position in shares of Green Dot Corporation during the second quarter valued at about $254,000. State of Alaska Department of Revenue raised its position in shares of Green Dot Corporation by 75.7% in the second quarter. State of Alaska Department of Revenue now owns 8,642 shares of the financial services provider’s stock valued at $332,000 after buying an additional 3,722 shares during the last quarter. KAMES CAPITAL plc raised its position in shares of Green Dot Corporation by 49.6% in the second quarter. KAMES CAPITAL plc now owns 126,053 shares of the financial services provider’s stock valued at $4,851,000 after buying an additional 41,806 shares during the last quarter. Finally, Lucha Capital Management LP acquired a new position in shares of Green Dot Corporation during the first quarter valued at about $12,590,000. Institutional investors own 80.01% of the company’s stock.
Green Dot Corporation Company Profile
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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