Green Dot Co. (GDOT) Given Average Recommendation of “Buy” by Brokerages

Green Dot Co. (NYSE:GDOT) has received a consensus recommendation of “Buy” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $91.33.

A number of brokerages recently issued reports on GDOT. ValuEngine cut shares of Green Dot from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. SunTrust Banks lifted their price objective on shares of Green Dot to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Craig Hallum set a $115.00 price objective on shares of Green Dot and gave the company a “buy” rating in a research note on Thursday, November 8th. Citigroup lifted their price objective on shares of Green Dot from $77.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Finally, Deutsche Bank set a $79.00 price objective on shares of Green Dot and gave the company a “hold” rating in a research note on Thursday, November 8th.

In other Green Dot news, insider Steven W. Streit sold 29,580 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $80.16, for a total transaction of $2,371,132.80. Following the sale, the insider now owns 23,361 shares of the company’s stock, valued at $1,872,617.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jess Unruh sold 2,147 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $76.27, for a total transaction of $163,751.69. Following the sale, the chief accounting officer now directly owns 71,350 shares in the company, valued at approximately $5,441,864.50. The disclosure for this sale can be found here. Insiders sold 439,338 shares of company stock worth $35,714,357 over the last three months. 11.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its holdings in shares of Green Dot by 12.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 254,398 shares of the financial services provider’s stock worth $18,671,000 after purchasing an additional 27,979 shares during the period. Public Employees Retirement System of Ohio increased its stake in Green Dot by 30.6% in the second quarter. Public Employees Retirement System of Ohio now owns 69,861 shares of the financial services provider’s stock valued at $5,127,000 after purchasing an additional 16,361 shares in the last quarter. Royce & Associates LP bought a new stake in Green Dot in the second quarter valued at $477,000. Cynosure Advisors LLC bought a new stake in Green Dot in the second quarter valued at $280,000. Finally, WINTON GROUP Ltd increased its stake in Green Dot by 93.1% in the second quarter. WINTON GROUP Ltd now owns 246,446 shares of the financial services provider’s stock valued at $18,087,000 after purchasing an additional 118,790 shares in the last quarter. 85.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GDOT traded up $2.20 during mid-day trading on Monday, hitting $83.34. 712,985 shares of the company’s stock were exchanged, compared to its average volume of 553,833. Green Dot has a 52 week low of $54.08 and a 52 week high of $93.00. The stock has a market capitalization of $4.28 billion, a PE ratio of 52.75 and a beta of 1.06. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05.

Green Dot (NYSE:GDOT) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.13. Green Dot had a net margin of 11.47% and a return on equity of 14.80%. The company had revenue of $230.58 million for the quarter, compared to analysts’ expectations of $223.95 million. During the same period last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts predict that Green Dot will post 2.49 earnings per share for the current fiscal year.

About Green Dot

Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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Analyst Recommendations for Green Dot (NYSE:GDOT)

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