Green Dot (NYSE:GDOT) Downgraded by Northland Securities

Green Dot (NYSE:GDOT) was downgraded by stock analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, The Fly reports.

Several other equities analysts have also recently weighed in on GDOT. Craig Hallum raised their price target on shares of Green Dot from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, October 5th. BTIG Research reaffirmed a “buy” rating and issued a $72.00 price target (up previously from $63.00) on shares of Green Dot in a research report on Sunday, October 25th. They noted that the move was a valuation call. Jefferies Financial Group raised their price target on shares of Green Dot from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Tuesday, October 20th. Needham & Company LLC lifted their target price on shares of Green Dot from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Green Dot from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, November 5th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Green Dot currently has a consensus rating of “Hold” and a consensus target price of $55.45.

GDOT stock opened at $56.68 on Thursday. The stock has a market capitalization of $3.03 billion, a PE ratio of 62.98 and a beta of 0.96. The company’s 50-day moving average is $56.32 and its 200-day moving average is $54.14. Green Dot has a 1 year low of $14.20 and a 1 year high of $64.97.

Green Dot (NYSE:GDOT) last released its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.14. Green Dot had a net margin of 4.01% and a return on equity of 7.73%. The company had revenue of $291.10 million for the quarter, compared to analysts’ expectations of $244.66 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The business’s revenue was up 21.1% on a year-over-year basis. As a group, research analysts forecast that Green Dot will post 1.32 EPS for the current year.

In other news, Director Glinda Bridgforth-Hodges sold 5,012 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $55.14, for a total transaction of $276,361.68. Following the completion of the sale, the director now owns 20,066 shares in the company, valued at approximately $1,106,439.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Chris Brewster sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $56.47, for a total transaction of $282,350.00. Following the sale, the director now owns 62,401 shares of the company’s stock, valued at approximately $3,523,784.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 869,710 shares of company stock valued at $46,549,591. 4.80% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can grew its position in shares of Green Dot by 1,246.9% during the 2nd quarter. Bank of Montreal Can now owns 5,226 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 4,838 shares in the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Green Dot during the 2nd quarter valued at $340,000. Bank of America Corp DE grew its position in shares of Green Dot by 12.1% during the 2nd quarter. Bank of America Corp DE now owns 125,718 shares of the financial services provider’s stock valued at $6,171,000 after purchasing an additional 13,578 shares in the last quarter. Glenmede Trust Co. NA grew its position in shares of Green Dot by 719.7% during the 2nd quarter. Glenmede Trust Co. NA now owns 582 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 511 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Green Dot during the 2nd quarter valued at $774,000. Institutional investors own 87.16% of the company’s stock.

Green Dot Company Profile

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, payroll debit cards, and other financial services.

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