Green Dot (NYSE:GDOT) Price Target Raised to $48.00

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Green Dot (NYSE:GDOT) had its price target increased by SunTrust Banks from $40.00 to $48.00 in a report released on Thursday, The Fly reports. They currently have a buy rating on the financial services provider’s stock.

A number of other analysts have also issued reports on the company. Northland Securities lowered Green Dot from an outperform rating to a market perform rating in a research report on Friday, February 14th. Deutsche Bank lifted their target price on Green Dot from $30.00 to $35.00 and gave the stock a hold rating in a research report on Tuesday, February 4th. Craig Hallum dropped their target price on Green Dot from $50.00 to $40.00 and set a buy rating on the stock in a research report on Friday, November 8th. Citigroup raised Green Dot from a sell rating to a neutral rating and lifted their target price for the stock from $22.00 to $34.00 in a research report on Tuesday, February 4th. Finally, Guggenheim lowered Green Dot from a buy rating to a neutral rating in a research report on Monday, November 11th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $40.17.

Shares of GDOT traded down $0.55 during midday trading on Thursday, reaching $35.65. 4,016 shares of the company were exchanged, compared to its average volume of 1,690,470. The stock has a 50-day moving average price of $29.41 and a 200-day moving average price of $27.43. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 19.25 and a beta of 0.85. Green Dot has a 1-year low of $21.97 and a 1-year high of $68.86. The company has a current ratio of 0.97, a quick ratio of 1.01 and a debt-to-equity ratio of 0.03.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.17. The company had revenue of $238.40 million for the quarter, compared to analysts’ expectations of $242.97 million. Green Dot had a return on equity of 13.49% and a net margin of 9.01%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Equities research analysts anticipate that Green Dot will post 1.28 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in Green Dot by 11,770.6% during the 4th quarter. Citigroup Inc. now owns 1,172,463 shares of the financial services provider’s stock worth $27,318,000 after acquiring an additional 1,162,586 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Green Dot by 162.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 974,661 shares of the financial services provider’s stock valued at $22,710,000 after buying an additional 602,620 shares during the period. Formula Growth Ltd. lifted its holdings in shares of Green Dot by 123.3% in the 4th quarter. Formula Growth Ltd. now owns 982,461 shares of the financial services provider’s stock valued at $22,891,000 after buying an additional 542,461 shares during the period. BlackRock Inc. lifted its holdings in shares of Green Dot by 6.4% in the 2nd quarter. BlackRock Inc. now owns 6,140,997 shares of the financial services provider’s stock valued at $300,294,000 after buying an additional 370,866 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Green Dot by 71.2% in the 4th quarter. Point72 Asset Management L.P. now owns 837,490 shares of the financial services provider’s stock valued at $19,514,000 after buying an additional 348,413 shares during the period. 86.48% of the stock is owned by hedge funds and other institutional investors.

About Green Dot

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, and other financial services.

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