Green Dot (GDOT) Stock Rating Lowered by ValuEngine

ValuEngine downgraded shares of Green Dot (NYSE:GDOT) from a buy rating to a hold rating in a research note published on Thursday, ValuEngine reports.

A number of other equities analysts have also commented on GDOT. Zacks Investment Research raised Green Dot from a hold rating to a buy rating and set a $87.00 price target for the company in a report on Thursday, January 24th. SunTrust Banks cut their price target on Green Dot to $70.00 and set a buy rating for the company in a report on Thursday. Craig Hallum cut their price target on Green Dot from $115.00 to $100.00 and set a buy rating for the company in a report on Thursday. Loop Capital reaffirmed a buy rating and issued a $75.00 price target on shares of Green Dot in a report on Thursday. Finally, BTIG Research lowered Green Dot from a buy rating to a neutral rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $82.71.

Shares of NYSE GDOT opened at $47.14 on Thursday. Green Dot has a 1-year low of $41.67 and a 1-year high of $93.00. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 18.63 and a beta of 0.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.04 and a quick ratio of 1.03.

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

In other Green Dot news, CEO Steven W. Streit sold 7,701 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $57.89, for a total transaction of $445,810.89. Following the sale, the chief executive officer now owns 69,313 shares in the company, valued at $4,012,529.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Konrad Alt sold 919 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $64.15, for a total value of $58,953.85. Following the sale, the insider now owns 77,643 shares in the company, valued at approximately $4,980,798.45. The disclosure for this sale can be found here. Insiders sold 107,427 shares of company stock worth $6,612,055 in the last quarter. 7.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board purchased a new stake in Green Dot during the first quarter valued at about $8,527,000. Elk Creek Partners LLC raised its position in Green Dot by 18.5% during the first quarter. Elk Creek Partners LLC now owns 227,364 shares of the financial services provider’s stock valued at $13,790,000 after purchasing an additional 35,497 shares in the last quarter. Federated Investors Inc. PA raised its position in Green Dot by 3.5% during the first quarter. Federated Investors Inc. PA now owns 333,014 shares of the financial services provider’s stock valued at $20,197,000 after purchasing an additional 11,386 shares in the last quarter. Swiss National Bank raised its position in Green Dot by 3.2% during the first quarter. Swiss National Bank now owns 86,400 shares of the financial services provider’s stock valued at $5,240,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC purchased a new stake in Green Dot during the first quarter valued at about $514,000. 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.

Further Reading: What is the Bid-Ask Spread?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Green Dot (NYSE:GDOT)

Receive News & Ratings for Green Dot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot and related companies with MarketBeat.com's FREE daily email newsletter.