Northland Securities Lowers Green Dot (NYSE:GDOT) Price Target to $35.00

Green Dot (NYSE:GDOT) had its target price lowered by investment analysts at Northland Securities from $58.00 to $35.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Northland Securities’ price objective would indicate a potential upside of 17.37% from the company’s previous close.

Several other research firms have also weighed in on GDOT. Citigroup lowered Green Dot from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. Guggenheim lowered Green Dot from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. SunTrust Banks restated a “buy” rating and issued a $50.00 target price on shares of Green Dot in a research note on Thursday. Zacks Investment Research upgraded Green Dot from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, July 9th. Finally, Needham & Company LLC reduced their target price on Green Dot to $42.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.91.

Shares of GDOT stock traded up $2.40 during mid-day trading on Thursday, hitting $29.82. The company’s stock had a trading volume of 3,554,359 shares, compared to its average volume of 572,779. The stock’s fifty day simple moving average is $47.77. Green Dot has a 52 week low of $24.19 and a 52 week high of $93.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.51 billion, a P/E ratio of 11.79 and a beta of 0.96.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.33. Green Dot had a return on equity of 16.75% and a net margin of 10.81%. The firm had revenue of $278.33 million during the quarter, compared to analyst estimates of $266.93 million. During the same period last year, the company posted $0.74 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Green Dot will post 2.09 EPS for the current year.

In other news, Director Glinda Bridgforth-Hodges sold 6,787 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $47.43, for a total value of $321,907.41. Following the completion of the sale, the director now directly owns 2,578 shares in the company, valued at approximately $122,274.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Brett Narlinger sold 5,532 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $48.87, for a total value of $270,348.84. Following the completion of the sale, the executive now owns 81,554 shares of the company’s stock, valued at $3,985,543.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,238 shares of company stock valued at $630,772. 7.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its stake in shares of Green Dot by 87.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 191,117 shares of the financial services provider’s stock worth $11,591,000 after buying an additional 89,310 shares during the last quarter. Globeflex Capital L P boosted its stake in shares of Green Dot by 72,871.4% in the 1st quarter. Globeflex Capital L P now owns 10,216 shares of the financial services provider’s stock worth $620,000 after buying an additional 10,202 shares during the last quarter. Aurora Investment Counsel purchased a new position in shares of Green Dot in the 1st quarter worth approximately $1,686,000. KAMES CAPITAL plc boosted its stake in shares of Green Dot by 12.7% in the 2nd quarter. KAMES CAPITAL plc now owns 1,081,699 shares of the financial services provider’s stock worth $52,884,000 after buying an additional 121,850 shares during the last quarter. Finally, Securian Asset Management Inc purchased a new position in shares of Green Dot in the 1st quarter worth approximately $351,000. Institutional investors own 87.38% of the company’s stock.

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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