Green Dot (NYSE:GDOT) had its target price lowered by stock analysts at SunTrust Banks to $40.00 in a research report issued on Friday, The Fly reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. SunTrust Banks’ price objective indicates a potential upside of 63.00% from the company’s previous close.
Several other analysts also recently weighed in on the company. Canaccord Genuity assumed coverage on Green Dot in a research note on Thursday, September 12th. They issued a “hold” rating and a $29.00 price target on the stock. Keefe, Bruyette & Woods downgraded Green Dot from an “outperform” rating to a “market perform” rating and cut their target price for the company from $60.00 to $35.00 in a research note on Thursday, August 8th. ValuEngine upgraded Green Dot from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays set a $41.00 target price on Green Dot and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Green Dot in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Green Dot has a consensus rating of “Hold” and a consensus price target of $47.62.
Shares of Green Dot stock traded down $5.41 during midday trading on Friday, hitting $24.54. The company had a trading volume of 3,353,200 shares, compared to its average volume of 670,007. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $1.52 billion, a P/E ratio of 9.70 and a beta of 1.11. The company has a 50 day moving average of $25.72 and a 200 day moving average of $40.23. Green Dot has a 52-week low of $22.45 and a 52-week high of $93.00.
Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Thursday, November 7th. The financial services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.32. The company had revenue of $240.40 million for the quarter, compared to the consensus estimate of $232.94 million. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. Equities research analysts forecast that Green Dot will post 2.18 EPS for the current year.
In other news, CRO Brett Narlinger sold 5,602 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the transaction, the executive now directly owns 71,624 shares in the company, valued at approximately $2,028,391.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GDOT. Investment Management of Virginia LLC increased its holdings in shares of Green Dot by 46.8% in the third quarter. Investment Management of Virginia LLC now owns 80,345 shares of the financial services provider’s stock worth $2,029,000 after purchasing an additional 25,603 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Green Dot by 132.1% in the third quarter. Tower Research Capital LLC TRC now owns 8,077 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 4,597 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Green Dot by 64.4% in the third quarter. SG Americas Securities LLC now owns 21,675 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 8,491 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its holdings in Green Dot by 51.1% in the third quarter. Taylor Frigon Capital Management LLC now owns 63,901 shares of the financial services provider’s stock valued at $1,614,000 after purchasing an additional 21,609 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in Green Dot in the third quarter valued at $316,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.
About Green Dot
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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