Green Dot (NYSE:GDOT) PT Lowered to $40.00 at Craig Hallum

Green Dot (NYSE:GDOT) had its price objective decreased by equities research analysts at Craig Hallum from $50.00 to $40.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Craig Hallum’s price objective would indicate a potential upside of 63.00% from the stock’s current price.

Other analysts also recently issued research reports about the company. TheStreet downgraded Green Dot from a “b-” rating to a “c+” rating in a research note on Thursday, August 8th. Canaccord Genuity started coverage on Green Dot in a research note on Thursday, September 12th. They issued a “hold” rating and a $29.00 price objective on the stock. ValuEngine raised Green Dot from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group downgraded Green Dot from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $62.00 to $32.00 in a research note on Thursday, September 5th. Finally, SunTrust Banks reissued a “buy” rating and issued a $50.00 price objective on shares of Green Dot in a research note on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.62.

Green Dot stock traded down $5.41 during mid-day trading on Friday, hitting $24.54. 3,353,200 shares of the company’s stock traded hands, compared to its average volume of 670,007. The firm has a 50 day moving average price of $25.72 and a 200 day moving average price of $40.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.52 billion, a PE ratio of 9.70 and a beta of 1.11. Green Dot has a one year low of $22.45 and a one year high of $93.00.

Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, November 7th. The financial services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.32. The firm had revenue of $240.40 million for the quarter, compared to the consensus estimate of $232.94 million. Green Dot had a return on equity of 16.77% and a net margin of 10.81%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. On average, analysts expect that Green Dot will post 2.18 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 on Friday, September 6th. The stock was sold at an average price of $28.32, for a total value of $158,648.64. Following the transaction, the executive now directly owns 71,624 shares in the company, valued at approximately $2,028,391.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.80% of the company’s stock.

Several hedge funds have recently modified their holdings of GDOT. KAMES CAPITAL plc grew its holdings in shares of Green Dot by 12.7% during the second quarter. KAMES CAPITAL plc now owns 1,081,699 shares of the financial services provider’s stock valued at $52,884,000 after buying an additional 121,850 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Green Dot by 0.4% during the second quarter. Retirement Systems of Alabama now owns 62,223 shares of the financial services provider’s stock valued at $3,043,000 after buying an additional 226 shares in the last quarter. Copper Rock Capital Partners LLC grew its holdings in shares of Green Dot by 58.5% during the second quarter. Copper Rock Capital Partners LLC now owns 444,976 shares of the financial services provider’s stock valued at $21,759,000 after buying an additional 164,194 shares in the last quarter. Scout Investments Inc. grew its holdings in shares of Green Dot by 94.0% during the second quarter. Scout Investments Inc. now owns 107,325 shares of the financial services provider’s stock valued at $5,248,000 after buying an additional 52,009 shares in the last quarter. Finally, Arlington Partners LLC purchased a new position in shares of Green Dot during the second quarter valued at $391,000. Institutional investors and hedge funds own 85.02% of the company’s stock.

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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