Green Dot Corporation (NYSE:GDOT) Receives $16.12 Consensus Price Target from Brokerages

Green Dot Corporation (NYSE:GDOT) has earned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $16.1250.

Several analysts have commented on the stock. Wall Street Zen raised shares of Green Dot from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Zacks Research downgraded shares of Green Dot from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research note on Tuesday, April 21st.

Hedge Funds Weigh In On Green Dot

Institutional investors and hedge funds have recently bought and sold shares of the company. Western Standard LLC raised its position in shares of Green Dot by 196.8% in the fourth quarter. Western Standard LLC now owns 1,977,500 shares of the financial services provider’s stock valued at $25,332,000 after purchasing an additional 1,311,170 shares during the period. Acuitas Investments LLC purchased a new stake in shares of Green Dot during the 3rd quarter valued at approximately $3,648,000. Credit Industriel ET Commercial bought a new position in Green Dot in the 4th quarter worth approximately $1,281,000. Portolan Capital Management LLC boosted its holdings in Green Dot by 15.3% in the 3rd quarter. Portolan Capital Management LLC now owns 1,615,280 shares of the financial services provider’s stock worth $21,693,000 after buying an additional 214,152 shares during the period. Finally, CenterBook Partners LP grew its stake in Green Dot by 406.7% in the 4th quarter. CenterBook Partners LP now owns 1,233,176 shares of the financial services provider’s stock valued at $15,797,000 after buying an additional 989,823 shares in the last quarter. 92.56% of the stock is owned by institutional investors.

Green Dot Trading Down 0.9%

Shares of Green Dot stock opened at $13.39 on Friday. Green Dot has a 1 year low of $9.31 and a 1 year high of $15.41. The firm has a market cap of $758.95 million, a PE ratio of -10.14 and a beta of 0.83. The stock has a fifty day moving average price of $13.01 and a 200-day moving average price of $12.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.50 and a quick ratio of 0.50.

Green Dot (NYSE:GDOT) last released its earnings results on Monday, May 11th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.24. The company had revenue of $652.03 million for the quarter, compared to analysts’ expectations of $597.39 million. Green Dot had a positive return on equity of 7.56% and a negative net margin of 3.25%. Equities research analysts anticipate that Green Dot will post 1.33 EPS for the current year.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.