Green Dot (NYSE:GDOT) Rating Lowered to Equal Weight at Barclays

Barclays lowered shares of Green Dot (NYSE:GDOTGet Rating) from an overweight rating to an equal weight rating in a research note released on Monday morning, Marketbeat.com reports. The brokerage currently has $25.00 price target on the financial services provider’s stock, down from their previous price target of $31.00.

Several other brokerages have also recently weighed in on GDOT. Needham & Company LLC decreased their target price on Green Dot from $35.00 to $30.00 and set a buy rating for the company in a research note on Friday, August 5th. Citigroup raised their target price on Green Dot to $28.00 in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Green Dot has an average rating of Moderate Buy and a consensus target price of $36.17.

Green Dot Stock Performance

NYSE:GDOT opened at $22.60 on Monday. Green Dot has a 1 year low of $22.27 and a 1 year high of $54.90. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 24.84 and a beta of 0.95. The business has a fifty day moving average of $25.38 and a 200-day moving average of $27.23.

Green Dot (NYSE:GDOTGet Rating) last released its quarterly earnings results on Thursday, August 4th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.22. Green Dot had a return on equity of 10.03% and a net margin of 3.52%. The company had revenue of $362.80 million during the quarter, compared to analysts’ expectations of $362.08 million. During the same quarter in the prior year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Green Dot will post 1.86 EPS for the current year.

Insider Activity at Green Dot

In other news, Director Rajeev V. Date sold 6,214 shares of the company’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $29.20, for a total transaction of $181,448.80. Following the completion of the sale, the director now directly owns 19,440 shares of the company’s stock, valued at $567,648. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 7,714 shares of company stock valued at $217,709 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Green Dot

Several hedge funds have recently modified their holdings of GDOT. Allspring Global Investments Holdings LLC purchased a new stake in Green Dot in the 4th quarter worth about $274,000. State of New Jersey Common Pension Fund D lifted its stake in Green Dot by 24.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 70,321 shares of the financial services provider’s stock worth $2,548,000 after acquiring an additional 13,628 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Green Dot by 132.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,560 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 890 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Green Dot in the 4th quarter worth about $496,000. Finally, Full18 Capital LLC purchased a new stake in Green Dot in the 4th quarter worth about $479,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Green Dot Company Profile

(Get Rating)

Green Dot Corporation, a financial technology and bank holding company, provides various financial products to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company offers deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.

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