Green Dot Corporation (NYSE:GDOT) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

GDOT has been the subject of a number of other research reports. Citigroup Inc. restated a “buy” rating and set a $46.00 price objective (up previously from $40.00) on shares of Green Dot Corporation in a research report on Monday, July 24th. Deutsche Bank AG raised their price objective on Green Dot Corporation from $37.00 to $42.00 and gave the company a “hold” rating in a research report on Wednesday, August 9th. Lake Street Capital started coverage on Green Dot Corporation in a research report on Monday, June 26th. They set a “hold” rating and a $41.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and set a $42.00 price objective on shares of Green Dot Corporation in a research report on Monday, May 22nd. Finally, Zacks Investment Research lowered Green Dot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $41.33.

Shares of Green Dot Corporation (NYSE GDOT) traded up 0.51% during midday trading on Thursday, reaching $46.92. The company’s stock had a trading volume of 556,288 shares. Green Dot Corporation has a 12 month low of $21.45 and a 12 month high of $48.66. The company’s 50-day moving average price is $45.49 and its 200-day moving average price is $38.15. The company has a market cap of $2.37 billion, a PE ratio of 39.90 and a beta of 1.01.

Green Dot Corporation (NYSE:GDOT) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.16. The firm had revenue of $222.50 million during the quarter, compared to analyst estimates of $208.59 million. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share. On average, equities analysts anticipate that Green Dot Corporation will post $2.05 EPS for the current fiscal year.

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In other Green Dot Corporation news, insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $47.58, for a total value of $380,402.10. Following the completion of the sale, the insider now owns 217,010 shares of the company’s stock, valued at $10,325,335.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark L. Shifke sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $39.86, for a total transaction of $199,300.00. Following the completion of the sale, the chief financial officer now directly owns 762,575 shares of the company’s stock, valued at approximately $30,396,239.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,166 shares of company stock valued at $5,918,805. 11.00% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. increased its holdings in Green Dot Corporation by 2.4% during the second quarter. Suntrust Banks Inc. now owns 7,339 shares of the financial services provider’s stock valued at $282,000 after buying an additional 175 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Green Dot Corporation by 2.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 13,250 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 300 shares during the last quarter. SG Americas Securities LLC grew its holdings in Green Dot Corporation by 3.6% in the first quarter. SG Americas Securities LLC now owns 13,506 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 470 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Green Dot Corporation by 13.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,013 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 472 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Green Dot Corporation by 2.2% in the first quarter. Arizona State Retirement System now owns 23,193 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 500 shares during the last quarter. 77.52% of the stock is owned by hedge funds and other institutional investors.

About Green Dot Corporation

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.

Analyst Recommendations for Green Dot Corporation (NYSE:GDOT)

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