Green Dot (GDOT) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Green Dot (NYSE:GDOT) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $74.00 target price on the financial services provider’s stock.
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. “
GDOT has been the topic of several other research reports. William Blair reaffirmed an outperform rating on shares of Green Dot in a research report on Monday, February 12th. Citigroup cut Green Dot from a buy rating to a neutral rating and set a $66.00 target price on the stock. in a research report on Monday, November 13th. BTIG Research raised Green Dot from a neutral rating to a buy rating and set a $65.00 target price on the stock in a research report on Wednesday, November 8th. SunTrust Banks reaffirmed a buy rating and set a $72.00 target price on shares of Green Dot in a research report on Friday, February 23rd. Finally, Deutsche Bank lifted their target price on Green Dot from $42.00 to $54.00 and gave the company a hold rating in a research report on Wednesday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $63.29.
Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The firm had revenue of $212.99 million during the quarter, compared to analysts’ expectations of $206.07 million. Green Dot had a return on equity of 12.32% and a net margin of 9.65%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. equities research analysts expect that Green Dot will post 2.44 EPS for the current fiscal year.
In related news, insider Steven W. Streit sold 12,495 shares of Green Dot stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.91, for a total transaction of $823,545.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Glinda Bridgforth-Hodges sold 8,952 shares of Green Dot stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $65.14, for a total value of $583,133.28. Following the sale, the director now owns 15,889 shares in the company, valued at $1,035,009.46. The disclosure for this sale can be found here. Insiders have sold 328,015 shares of company stock worth $20,018,961 over the last quarter. 11.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of GDOT. LS Investment Advisors LLC raised its stake in shares of Green Dot by 70.4% in the fourth quarter. LS Investment Advisors LLC now owns 2,618 shares of the financial services provider’s stock valued at $158,000 after buying an additional 1,082 shares during the period. Globeflex Capital L P bought a new stake in shares of Green Dot in the fourth quarter valued at $185,000. Verition Fund Management LLC bought a new stake in shares of Green Dot in the fourth quarter valued at $216,000. Xact Kapitalforvaltning AB bought a new stake in shares of Green Dot in the fourth quarter valued at $231,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Green Dot by 13.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,013 shares of the financial services provider’s stock valued at $155,000 after buying an additional 472 shares during the period. Institutional investors and hedge funds own 84.60% of the company’s stock.
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Green Dot 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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