Green Dot Corporation (NYSE:GDOT) Reaches New 1-Year High at $40.67

Green Dot Corporation (NYSE:GDOT) reached a new 52-week high during trading on Wednesday . The company traded as high as $40.67 and last traded at $40.69, with a volume of 45,123 shares changing hands. The stock had previously closed at $40.45.

A number of research analysts have issued reports on the stock. BidaskClub downgraded shares of Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Citigroup Inc. reissued a “buy” rating and set a $46.00 price objective (up from $40.00) on shares of Green Dot Corporation in a research report on Monday. Zacks Investment Research cut shares of Green Dot Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Keefe, Bruyette & Woods set a $37.00 target price on shares of Green Dot Corporation and gave the company a “hold” rating in a research note on Thursday, July 6th. Finally, Lake Street Capital assumed coverage on shares of Green Dot Corporation in a research note on Monday, June 26th. They issued a “hold” rating and a $41.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Green Dot Corporation currently has a consensus rating of “Buy” and a consensus price target of $35.45.

The stock’s 50 day moving average price is $39.27 and its 200-day moving average price is $33.22. The company has a market cap of $2.03 billion, a P/E ratio of 41.87 and a beta of 1.03.

Green Dot Corporation (NYSE:GDOT) last released its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.14. Green Dot Corporation had a return on equity of 10.11% and a net margin of 6.65%. The business had revenue of $253 million for the quarter, compared to analysts’ expectations of $233.49 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts expect that Green Dot Corporation will post $1.95 earnings per share for the current fiscal year.

In other news, COO Kuan Archer sold 12,199 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $34.38, for a total value of $419,401.62. Following the sale, the chief operating officer now directly owns 130,166 shares of the company’s stock, valued at $4,475,107.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth C. Aldrich sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $40.01, for a total value of $400,100.00. Following the completion of the sale, the director now directly owns 20,142 shares in the company, valued at $805,881.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,839 shares of company stock valued at $7,881,406. 11.00% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Green Dot Corporation by 53,389.4% in the first quarter. BlackRock Inc. now owns 5,309,357 shares of the financial services provider’s stock worth $177,121,000 after buying an additional 5,299,431 shares during the period. Copper Rock Capital Partners LLC acquired a new stake in Green Dot Corporation during the first quarter worth approximately $33,520,000. Norges Bank acquired a new stake in Green Dot Corporation during the fourth quarter worth approximately $10,785,000. Vanguard Group Inc. raised its stake in Green Dot Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 4,091,807 shares of the financial services provider’s stock worth $136,503,000 after buying an additional 412,984 shares in the last quarter. Finally, Lucha Capital Management LP acquired a new stake in Green Dot Corporation during the first quarter worth approximately $12,590,000. 80.14% of the stock is currently owned by institutional investors and hedge funds.

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Green Dot Corporation 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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