Wall Street Zen Upgrades Green Dot (NYSE:GDOT) to Hold

Green Dot (NYSE:GDOT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Other equities research analysts have also issued research reports about the stock. Northland Securities set a $14.25 price objective on shares of Green Dot and gave the stock a “market perform” rating in a research report on Tuesday, November 25th. Craig Hallum restated a “buy” rating and set a $18.00 target price on shares of Green Dot in a report on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $13.56.

Green Dot Stock Performance

Green Dot stock opened at $11.25 on Friday. The company has a market cap of $625.38 million, a price-to-earnings ratio of -6.32 and a beta of 0.82. Green Dot has a 12 month low of $6.59 and a 12 month high of $15.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.52 and a quick ratio of 0.52. The stock’s 50-day moving average is $11.81 and its 200-day moving average is $12.45.

Green Dot (NYSE:GDOT) last issued its earnings results on Monday, March 16th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Green Dot had a positive return on equity of 6.93% and a negative net margin of 4.75%.The business had revenue of $519.72 million during the quarter, compared to analysts’ expectations of $508.09 million. Equities analysts anticipate that Green Dot will post 0.87 earnings per share for the current year.

Institutional Trading of Green Dot

Several large investors have recently bought and sold shares of GDOT. Ameritas Investment Partners Inc. lifted its position in shares of Green Dot by 18.6% during the second quarter. Ameritas Investment Partners Inc. now owns 5,478 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 861 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 1,221 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Green Dot by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,801 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 1,341 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Green Dot during the 3rd quarter worth $29,000. Finally, Russell Investments Group Ltd. increased its stake in Green Dot by 4.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 61,367 shares of the financial services provider’s stock worth $662,000 after buying an additional 2,412 shares during the period. Institutional investors and hedge funds own 92.56% of the company’s stock.

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.