BTC Capital Management Inc. Takes Position in Green Dot Corporation (NYSE:GDOT)
BTC Capital Management Inc. acquired a new stake in shares of Green Dot Corporation (NYSE:GDOT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,446 shares of the financial services provider’s stock, valued at approximately $209,000.
Several other institutional investors also recently made changes to their positions in GDOT. Daiwa Securities Group Inc. bought a new position in shares of Green Dot Corporation during the second quarter valued at about $108,000. IFP Advisors Inc boosted its position in shares of Green Dot Corporation by 5,537.3% in the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,824 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Green Dot Corporation during the first quarter valued at about $118,000. Asset Management One Co. Ltd. bought a new position in shares of Green Dot Corporation during the first quarter valued at about $162,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Green Dot Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 4,920 shares of the financial services provider’s stock valued at $164,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 81.21% of the company’s stock.
Shares of Green Dot Corporation (NYSE GDOT) opened at 44.88 on Friday. The firm has a 50-day moving average price of $40.09 and a 200-day moving average price of $34.67. The stock has a market cap of $2.26 billion, a PE ratio of 38.20 and a beta of 1.06. Green Dot Corporation has a 52 week low of $21.45 and a 52 week high of $46.88.
Green Dot Corporation (NYSE:GDOT) last released its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.16. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. The company had revenue of $222.50 million for the quarter, compared to the consensus estimate of $208.59 million. During the same quarter last year, the business posted $0.27 EPS. Green Dot Corporation’s quarterly revenue was up 28.2% compared to the same quarter last year. On average, analysts forecast that Green Dot Corporation will post $2.05 earnings per share for the current fiscal year.
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Several brokerages have recently issued reports on GDOT. Citigroup Inc. lifted their price objective on Green Dot Corporation from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Zacks Investment Research cut Green Dot Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Lake Street Capital upgraded Green Dot Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $44.00 in a research note on Wednesday. William Blair upgraded Green Dot Corporation from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods set a $37.00 price objective on Green Dot Corporation and gave the company a “hold” rating in a research note on Thursday, July 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $40.44.
In related news, COO Kuan Archer sold 12,356 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $40.22, for a total value of $496,958.32. Following the sale, the chief operating officer now owns 117,024 shares of the company’s stock, valued at approximately $4,706,705.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth C. Aldrich sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $40.01, for a total value of $400,100.00. Following the completion of the sale, the director now directly owns 20,142 shares in the company, valued at approximately $805,881.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 190,287 shares of company stock worth $7,067,076. 11.00% of the stock is currently owned by company insiders.
About Green Dot Corporation
Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.
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