Green Dot (NYSE:GDOT) Upgraded to “Buy” by BTIG Research

Green Dot (NYSE:GDOT) was upgraded by stock analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, The Fly reports.

A number of other research analysts have also recently commented on the company. ValuEngine cut Green Dot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 18th. Canaccord Genuity upped their price target on Green Dot from $29.00 to $35.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th. Northland Securities raised Green Dot from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Thursday, March 19th. Citigroup upgraded Green Dot from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $22.00 to $34.00 in a report on Tuesday, February 4th. Finally, Barclays raised their price objective on Green Dot from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Green Dot presently has an average rating of “Buy” and a consensus price target of $38.75.

Shares of Green Dot stock traded up $2.76 during midday trading on Wednesday, reaching $23.83. 2,217,584 shares of the company’s stock traded hands, compared to its average volume of 1,296,682. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $979.14 million, a PE ratio of 13.02 and a beta of 0.64. The stock has a 50 day moving average of $30.67 and a 200-day moving average of $26.87. Green Dot has a 12 month low of $14.20 and a 12 month high of $66.81.

Green Dot (NYSE:GDOT) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.17. Green Dot had a net margin of 9.01% and a return on equity of 13.49%. The firm had revenue of $238.40 million during the quarter, compared to analysts’ expectations of $242.97 million. During the same period last year, the company posted $0.56 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Green Dot will post 1.02 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Green Dot in the fourth quarter worth $13,578,000. Geode Capital Management LLC raised its position in shares of Green Dot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 643,942 shares of the financial services provider’s stock worth $15,003,000 after purchasing an additional 7,743 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in 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 worth $19,514,000 after purchasing an additional 348,413 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Green Dot by 8.3% in the 4th quarter. Advisors Asset Management Inc. now owns 7,670 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 589 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Green Dot by 89.9% in the 4th quarter. AQR Capital Management LLC now owns 63,996 shares of the financial services provider’s stock worth $1,471,000 after purchasing an additional 30,290 shares in the last quarter. 85.31% of the stock is owned by 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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