Green Dot (GDOT) Given a $105.00 Price Target at Citigroup

Green Dot (NYSE:GDOT) has been assigned a $105.00 target price by investment analysts at Citigroup in a note issued to investors on Friday. The firm presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target indicates a potential upside of 21.99% from the company’s previous close.

GDOT has been the topic of several other reports. Zacks Investment Research downgraded Green Dot from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Craig Hallum restated a “buy” rating and issued a $95.00 price objective on shares of Green Dot in a research report on Tuesday, July 17th. ValuEngine downgraded Green Dot from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Jefferies Financial Group lifted their target price on Green Dot from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Finally, Morgan Stanley lifted their target price on Green Dot from $67.00 to $73.00 and gave the stock a “$81.43” rating in a report on Thursday, July 19th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $89.82.

Shares of Green Dot stock traded down $6.77 during trading hours on Friday, hitting $86.07. The company’s stock had a trading volume of 523,508 shares, compared to its average volume of 435,764. Green Dot has a 12-month low of $54.08 and a 12-month high of $93.00. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 54.47 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.06.

Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Wednesday, November 7th. The financial services provider reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.13. Green Dot had a return on equity of 14.26% and a net margin of 12.73%. The business had revenue of $230.58 million for the quarter, compared to the consensus estimate of $223.95 million. During the same period in the previous year, the business earned $0.34 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. On average, equities analysts expect that Green Dot will post 2.4 earnings per share for the current year.

In other Green Dot news, CFO Mark L. Shifke sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $83.16, for a total transaction of $831,600.00. Following the sale, the chief financial officer now directly owns 661,574 shares of the company’s stock, valued at $55,016,493.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jess Unruh sold 11,043 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $85.11, for a total value of $939,869.73. Following the sale, the chief accounting officer now directly owns 87,312 shares in the company, valued at $7,431,124.32. The disclosure for this sale can be found here. Insiders sold 426,362 shares of company stock worth $35,029,225 over the last ninety days. Insiders own 11.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of GDOT. UBS Group AG increased its stake in Green Dot by 59.0% during the first quarter. UBS Group AG now owns 46,719 shares of the financial services provider’s stock worth $2,998,000 after acquiring an additional 17,333 shares during the last quarter. Principal Financial Group Inc. increased its stake in Green Dot by 3.5% during the first quarter. Principal Financial Group Inc. now owns 393,267 shares of the financial services provider’s stock worth $25,232,000 after acquiring an additional 13,240 shares during the last quarter. Brown Advisory Inc. increased its stake in Green Dot by 33.0% during the first quarter. Brown Advisory Inc. now owns 10,476 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 2,602 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Green Dot by 18.5% during the second quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the financial services provider’s stock worth $516,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Green Dot during the second quarter worth approximately $165,000. 84.62% of the stock is currently owned by institutional investors.

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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