Green Dot (NYSE:GDOT) PT Raised to $10.00 at Barclays

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

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $11.00 target price on shares of Green Dot in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.50.

Green Dot Price Performance

Shares of NYSE GDOT traded up $0.20 on Monday, hitting $12.40. The company’s stock had a trading volume of 54,120 shares, compared to its average volume of 577,289. Green Dot has a 12-month low of $7.30 and a 12-month high of $14.10. The stock has a 50 day moving average of $10.49 and a 200-day moving average of $9.69. The company has a market capitalization of $659.80 million, a price-to-earnings ratio of -26.38 and a beta of 0.91.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GDOT. nVerses Capital LLC purchased a new position in shares of Green Dot during the 2nd quarter valued at approximately $25,000. Nisa Investment Advisors LLC lifted its stake in Green Dot by 162.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,609 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Green Dot by 89.2% during the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,293 shares during the period. UMB Bank n.a. grew its position in shares of Green Dot by 98.3% during the first quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,415 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Green Dot in the 2nd quarter worth about $32,000. 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.