Green Dot (NYSE:GDOT) Price Target Increased to $10.00 by Analysts at Barclays

Green Dot (NYSE:GDOT) had its price objective increased by stock analysts at Barclays from $7.00 to $10.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential downside of 19.35% from the stock’s current price.

Separately, Keefe, Bruyette & Woods reaffirmed 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.50.

Green Dot Stock Up 1.6 %

GDOT stock traded up $0.20 during trading on Monday, reaching $12.40. 54,120 shares of the company’s stock were exchanged, compared to its average volume of 577,289. The firm has a market cap of $659.80 million, a PE ratio of -26.38 and a beta of 0.91. Green Dot has a 1-year low of $7.30 and a 1-year high of $14.10. The company’s fifty day moving average price is $10.49 and its 200-day moving average price is $9.69.

Green Dot (NYSE:GDOT) last released its earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $407.10 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. As a group, sell-side analysts expect that Green Dot will post 1 earnings per share for the current fiscal year.

Institutional Trading of Green Dot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kent Lake Capital LLC acquired a new position in shares of Green Dot in the 1st quarter worth $7,464,000. Charles Schwab Investment Management Inc. raised its stake in shares of Green Dot by 12.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 749,075 shares of the financial services provider’s stock worth $7,416,000 after purchasing an additional 81,846 shares in the last quarter. Bank of New York Mellon Corp raised its position in Green Dot by 17.7% during the second quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider’s stock valued at $5,142,000 after acquiring an additional 82,022 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of Green Dot by 24.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock worth $4,965,000 after purchasing an additional 104,829 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in shares of Green Dot in the 1st quarter valued at $4,254,000. 92.56% of the stock is owned by institutional investors and hedge funds.

About Green Dot

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.