Northland Securities set a $35.00 target price on Green Dot (NYSE:GDOT) in a report issued on Friday morning, AnalystRatings.com reports. The brokerage currently has a hold rating on the financial services provider’s stock.
“We believe the GDOT story today is about this new Unlimited product/card and we continue to believe traction will be difficult and the margin on the Unlimited card will be lower. As such, we are establishing 2020 estimates which are less than consensus estimates.”,” the firm’s analyst wrote.
Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods downgraded Green Dot from an outperform rating to a market perform rating and lowered their target price for the company from $60.00 to $35.00 in a research report on Thursday, August 8th. Deutsche Bank lowered their target price on Green Dot from $44.00 to $29.00 and set a hold rating on the stock in a research report on Thursday, August 8th. Guggenheim raised Green Dot from a neutral rating to a buy rating in a research report on Friday, August 9th. SunTrust Banks reaffirmed a buy rating and issued a $50.00 target price on shares of Green Dot in a research report on Thursday, August 8th. Finally, ValuEngine downgraded Green Dot from a sell rating to a strong sell rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $49.69.
Green Dot (NYSE:GDOT) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.33. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The firm had revenue of $278.33 million for the quarter, compared to the consensus estimate of $266.93 million. During the same quarter last year, the business posted $0.74 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Green Dot will post 2.1 earnings per share for the current fiscal year.
In related news, CRO Brett Narlinger sold 5,602 shares of Green Dot stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the sale, the executive now owns 71,624 shares of the company’s stock, valued at $2,028,391.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GDOT. Geode Capital Management LLC increased its position in Green Dot by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 525,012 shares of the financial services provider’s stock worth $41,748,000 after buying an additional 7,851 shares during the last quarter. Rhumbline Advisers increased its position in Green Dot by 10.5% during the first quarter. Rhumbline Advisers now owns 148,775 shares of the financial services provider’s stock worth $9,023,000 after buying an additional 14,187 shares during the last quarter. Texas Permanent School Fund increased its position in Green Dot by 4.2% during the first quarter. Texas Permanent School Fund now owns 32,337 shares of the financial services provider’s stock worth $1,961,000 after buying an additional 1,298 shares during the last quarter. Stephens Inc. AR acquired a new position in Green Dot during the first quarter worth approximately $105,000. Finally, State Treasurer State of Michigan acquired a new position in Green Dot during the first quarter worth approximately $1,031,000. 89.58% of the stock is currently owned by hedge funds and other institutional investors.
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, and other financial services.
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