Green Dot (NYSE:GDOT) Rating Increased to Buy at Wall Street Zen

Green Dot (NYSE:GDOT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Friday.

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Green Dot from $12.00 to $10.00 and set a "market perform" rating on the stock in a research note on Friday, February 28th. Northland Capmk upgraded shares of Green Dot from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Northland Securities upgraded shares of Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price target on the stock in a research note on Wednesday, April 9th. Barclays lifted their price target on shares of Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. Finally, Craig Hallum raised shares of Green Dot from a "hold" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.50.

Green Dot Stock Up 3.7%

Shares of NYSE:GDOT traded up $0.35 during midday trading on Friday, reaching $9.58. 683,925 shares of the company were exchanged, compared to its average volume of 648,226. Green Dot has a fifty-two week low of $6.12 and a fifty-two week high of $13.58. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $8.56 and a two-hundred day simple moving average of $8.97. The firm has a market cap of $525.58 million, a PE ratio of -9.12 and a beta of 0.73.

Green Dot (NYSE:GDOT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.36. Green Dot had a negative net margin of 3.39% and a positive return on equity of 3.84%. The firm had revenue of $555.96 million for the quarter, compared to analyst estimates of $503.20 million. During the same period in the previous year, the business earned $0.59 EPS. The company's revenue was up 23.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Green Dot will post 0.87 earnings per share for the current year.

Insider Activity

In related news, insider Christian Devin Ruppel sold 10,189 shares of Green Dot stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $11.00, for a total transaction of $112,079.00. Following the completion of the sale, the insider now owns 253,139 shares of the company's stock, valued at approximately $2,784,529. The trade was a 3.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

Institutional Trading of Green Dot

Several hedge funds and other institutional investors have recently modified their holdings of GDOT. Empowered Funds LLC boosted its holdings in shares of Green Dot by 5.1% during the 4th quarter. Empowered Funds LLC now owns 185,482 shares of the financial services provider's stock worth $1,974,000 after buying an additional 9,044 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Green Dot by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 260,772 shares of the financial services provider's stock worth $2,775,000 after buying an additional 7,642 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Green Dot by 63.1% during the 4th quarter. New York State Common Retirement Fund now owns 11,892 shares of the financial services provider's stock worth $127,000 after buying an additional 4,600 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Green Dot by 12.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 27,070 shares of the financial services provider's stock worth $288,000 after buying an additional 2,954 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Green Dot during the 4th quarter worth about $294,000. Institutional investors own 92.56% of the company's stock.

Green Dot Company Profile

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.

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