Cowen and Company Reaffirms “Hold” Rating for Green Dot Corporation (NYSE:GDOT)

Green Dot Corporation (NYSE:GDOT)‘s stock had its “hold” rating restated by stock analysts at Cowen and Company in a research report issued to clients and investors on Thursday.

GDOT has been the topic of a number of other reports. Citigroup Inc. lifted their price target on Green Dot Corporation from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Zacks Investment Research lowered Green Dot Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. Lake Street Capital upgraded Green Dot Corporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $41.00 to $44.00 in a report on Wednesday. William Blair upgraded Green Dot Corporation from a “market perform” rating to an “outperform” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods set a $37.00 price target on Green Dot Corporation and gave the stock a “hold” rating in a report on Thursday, July 6th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $40.44.

Shares of Green Dot Corporation (GDOT) opened at 45.92 on Thursday. Green Dot Corporation has a 1-year low of $21.45 and a 1-year high of $46.88. The company has a market cap of $2.28 billion, a PE ratio of 47.19 and a beta of 1.06. The company has a 50-day moving average price of $39.73 and a 200-day moving average price of $34.44.

Green Dot Corporation (NYSE:GDOT) last issued its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.16. The business had revenue of $222.50 million for the quarter, compared to analyst estimates of $208.59 million. Green Dot Corporation had a return on equity of 12.30% and a net margin of 7.66%. Green Dot Corporation’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. Equities research analysts expect that Green Dot Corporation will post $2.05 earnings per share for the current fiscal year.

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In related news, General Counsel John C. Ricci sold 72,248 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $36.21, for a total transaction of $2,616,100.08. Following the sale, the general counsel now directly owns 158,594 shares in the company, valued at approximately $5,742,688.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark L. Shifke sold 5,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $36.09, for a total value of $180,450.00. Following the sale, the chief financial officer now owns 780,062 shares in the company, valued at $28,152,437.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,996 shares of company stock worth $8,357,963. 11.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Green Dot Corporation during the fourth quarter worth about $10,785,000. Teachers Advisors LLC raised its stake in Green Dot Corporation by 89.9% in the fourth quarter. Teachers Advisors LLC now owns 198,494 shares of the financial services provider’s stock worth $4,675,000 after buying an additional 93,956 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Green Dot Corporation during the fourth quarter worth about $407,000. Louisiana State Employees Retirement System raised its stake in Green Dot Corporation by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the financial services provider’s stock worth $607,000 after buying an additional 400 shares during the last quarter. Finally, Capital Impact Advisors LLC raised its stake in Green Dot Corporation by 13.6% in the first quarter. Capital Impact Advisors LLC now owns 47,816 shares of the financial services provider’s stock worth $1,595,000 after buying an additional 5,724 shares during the last quarter. Institutional investors own 81.21% of the company’s stock.

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.

Analyst Recommendations for Green Dot Corporation (NYSE:GDOT)

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