Barclays Boosts Green Dot (NYSE:GDOT) Price Target to $10.00

Green Dot (NYSE:GDOT) had its price target lifted by Barclays from $7.00 to $10.00 in a research note published on Monday, Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods restated a market perform rating and set a $11.00 price target on shares of Green Dot in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Green Dot has a consensus rating of Hold and an average price target of $11.50.

Green Dot Stock Up 0.3 %

Shares of Green Dot stock opened at $11.59 on Monday. The firm has a market cap of $616.70 million, a PE ratio of -24.66 and a beta of 0.91. Green Dot has a 52 week low of $7.30 and a 52 week high of $14.10. The business’s fifty day simple moving average is $10.65 and its 200-day simple moving average is $9.77.

Green Dot (NYSE:GDOT) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $407.10 million during the quarter, compared to analyst estimates of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. Green Dot’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share. As a group, equities analysts expect that Green Dot will post 1 earnings per share for the current year.

Institutional Investors Weigh In On Green Dot

Several large investors have recently added to or reduced their stakes in GDOT. BNP Paribas Financial Markets grew its stake in shares of Green Dot by 428.0% in the fourth quarter. BNP Paribas Financial Markets now owns 111,524 shares of the financial services provider’s stock worth $1,104,000 after acquiring an additional 90,402 shares in the last quarter. SG Capital Management LLC purchased a new position in Green Dot in the first quarter valued at $4,254,000. Quest Partners LLC acquired a new position in Green Dot during the 2nd quarter worth $685,000. State Board of Administration of Florida Retirement System increased its holdings in Green Dot by 40.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,689 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 5,390 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its position in Green Dot by 24.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock valued at $4,965,000 after purchasing an additional 104,829 shares in the last quarter. 92.56% of the stock is owned by hedge funds and other institutional investors.

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.