Green Dot (GDOT) Price Target Cut to $100.00 by Analysts at Craig Hallum

Green Dot (NYSE:GDOT) had its price target reduced by Craig Hallum from $115.00 to $100.00 in a research note released on Thursday, The Fly reports. They currently have a buy rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on GDOT. Zacks Investment Research downgraded Green Dot from a buy rating to a hold rating in a report on Friday, January 25th. ValuEngine downgraded Green Dot from a buy rating to a hold rating in a report on Saturday, February 23rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $82.71.

Shares of NYSE GDOT opened at $48.83 on Thursday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 19.30 and a beta of 0.74. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.02. Green Dot has a 1 year low of $41.67 and a 1 year high of $93.00.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.10. The company had revenue of $340.51 million during the quarter, compared to the consensus estimate of $330.17 million. Green Dot had a return on equity of 15.74% and a net margin of 10.56%. Green Dot’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 EPS. On average, equities research analysts expect that Green Dot will post 2.81 EPS for the current fiscal year.

In other news, CFO Mark L. Shifke sold 1,250 shares of Green Dot stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $65.11, for a total transaction of $81,387.50. Following the sale, the chief financial officer now owns 591,740 shares in the company, valued at $38,528,191.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark L. Shifke sold 6,250 shares of Green Dot stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $65.00, for a total value of $406,250.00. Following the sale, the chief financial officer now owns 592,990 shares in the company, valued at approximately $38,544,350. The disclosure for this sale can be found here. Insiders have sold 107,427 shares of company stock worth $6,612,055 in the last quarter. Insiders own 7.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Group LLC increased its position in Green Dot by 3.9% in the 4th quarter. Renaissance Group LLC now owns 7,600 shares of the financial services provider’s stock valued at $604,000 after acquiring an additional 284 shares during the period. Oberweis Asset Management Inc. increased its position in Green Dot by 0.4% in the 4th quarter. Oberweis Asset Management Inc. now owns 82,760 shares of the financial services provider’s stock valued at $6,581,000 after acquiring an additional 315 shares during the period. Ffcm LLC acquired a new position in Green Dot in the 4th quarter valued at about $27,000. Bank of Montreal Can increased its position in Green Dot by 15.0% in the 4th quarter. Bank of Montreal Can now owns 2,628 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 343 shares during the period. Finally, Brown Advisory Inc. increased its position in Green Dot by 3.7% in the 4th quarter. Brown Advisory Inc. now owns 10,129 shares of the financial services provider’s stock valued at $806,000 after acquiring an additional 366 shares during the period. Institutional investors and hedge funds own 87.97% 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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