Green Dot (NYSE:GDOT) Downgraded by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of Green Dot (NYSE:GDOT) from an outperform rating to a market perform rating in a report published on Thursday, BenzingaRatingsTable reports. Keefe, Bruyette & Woods currently has $35.00 price target on the financial services provider’s stock, down from their prior price target of $60.00.

Several other brokerages have also recently weighed in on GDOT. Zacks Investment Research upgraded Green Dot from a hold rating to a buy rating and set a $52.00 price target for the company in a research report on Tuesday, July 9th. BTIG Research cut Green Dot from a buy rating to a neutral rating in a research report on Thursday, May 9th. Needham & Company LLC cut their price objective on Green Dot from $75.00 to $60.00 and set a buy rating for the company in a research report on Thursday, May 9th. Loop Capital restated a buy rating and issued a $75.00 price objective on shares of Green Dot in a research report on Thursday, May 9th. Finally, Citigroup cut Green Dot from a buy rating to a neutral rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $60.91.

GDOT stock traded up $2.40 during trading on Thursday, hitting $29.82. 3,554,359 shares of the company traded hands, compared to its average volume of 1,003,126. The stock’s 50-day moving average is $47.77. The company has a current ratio of 1.01, a quick ratio of 1.04 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.46 billion, a P/E ratio of 11.79 and a beta of 0.96. Green Dot has a 1 year low of $24.19 and a 1 year high of $93.00.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.33. The company had revenue of $278.33 million during the quarter, compared to analysts’ expectations of $266.93 million. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. Green Dot’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. Research analysts predict that Green Dot will post 2.09 earnings per share for the current year.

In other news, insider Konrad Alt sold 919 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $41.91, for a total value of $38,515.29. Following the completion of the sale, the insider now directly owns 76,724 shares in the company, valued at $3,215,502.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Glinda Bridgforth-Hodges sold 6,787 shares of Green Dot stock in a transaction that occurred on 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 $122,274.54. The disclosure for this sale can be found here. Insiders sold 13,238 shares of company stock valued at $630,772 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. Cutler Group LP acquired a new position in Green Dot during the second quarter worth $29,000. Tortoise Index Solutions LLC acquired a new position in Green Dot during the first quarter worth $43,000. Manchester Capital Management LLC acquired a new position in Green Dot during the first quarter worth $53,000. FNY Investment Advisers LLC boosted its stake in Green Dot by 708.8% during the first quarter. FNY Investment Advisers LLC now owns 1,100 shares of the financial services provider’s stock worth $66,000 after buying an additional 964 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Green Dot during the second quarter worth $68,000. 87.38% of the stock is currently 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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Analyst Recommendations for Green Dot (NYSE:GDOT)

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