Green Dot Corporation (NYSE:GDOT) Given Average Recommendation of “Reduce” by Analysts

Green Dot Corporation (NYSE:GDOT) has earned a consensus recommendation of “Reduce” from the seven analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.5625.

Several brokerages have recently issued reports on GDOT. Wall Street Zen upgraded Green Dot from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Craig Hallum reiterated a “buy” rating and issued a $18.00 price target on shares of Green Dot in a research note on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a research note on Thursday, January 22nd.

Institutional Investors Weigh In On Green Dot

Hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Green Dot during the 3rd quarter valued at $29,000. Summit Securities Group LLC acquired a new stake in shares of Green Dot during the 4th quarter valued at $66,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 acquiring an additional 1,221 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Green Dot during the 1st quarter valued at $96,000. Finally, OLD National Bancorp IN acquired a new stake in shares of Green Dot during the 4th quarter valued at $128,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Trading Down 0.9%

Shares of GDOT opened at $11.10 on Friday. Green Dot has a 52-week low of $6.59 and a 52-week high of $15.41. The business’s fifty day moving average is $11.57 and its 200-day moving average is $12.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $616.55 million, a price-to-earnings ratio of -6.23 and a beta of 0.81.

Green Dot (NYSE:GDOT) last issued its quarterly earnings results on Monday, March 16th. The financial services provider reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $519.72 million for the quarter, compared to analyst estimates of $508.09 million. Equities analysts anticipate that Green Dot will post 0.87 EPS for the current fiscal year.

Green Dot Company Profile

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.