Keefe, Bruyette & Woods Lowers Green Dot (NYSE:GDOT) Price Target to $11.00

Green Dot (NYSE:GDOT) had its price target cut by Keefe, Bruyette & Woods from $12.50 to $11.00 in a research report report published on Friday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other brokerages have also issued reports on GDOT. Barclays lowered Green Dot from an equal weight rating to an underweight rating and decreased their price objective for the company from $8.00 to $7.00 in a research report on Thursday, December 14th. TheStreet cut Green Dot from a c- rating to a d rating in a research note on Thursday, February 1st. Finally, Truist Financial boosted their target price on Green Dot from $10.00 to $11.00 and gave the company a buy rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $10.75.

Green Dot Stock Performance

Shares of GDOT opened at $8.41 on Friday. The stock has a 50 day simple moving average of $8.70 and a 200 day simple moving average of $9.75. Green Dot has a 52-week low of $7.30 and a 52-week high of $21.37. The firm has a market capitalization of $444.04 million, a PE ratio of 64.65 and a beta of 1.04.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Green Dot had a return on equity of 6.78% and a net margin of 0.45%. The business had revenue of $361.72 million during the quarter, compared to analyst estimates of $350.14 million. Equities research analysts predict that Green Dot will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling at Green Dot

In other news, CRO Christian Devin Ruppel bought 33,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $9.06 per share, for a total transaction of $298,980.00. Following the purchase, the executive now owns 101,715 shares of the company’s stock, valued at approximately $921,537.90. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CRO Christian Devin Ruppel acquired 33,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $9.06 per share, for a total transaction of $298,980.00. Following the purchase, the executive now directly owns 101,715 shares in the company, valued at approximately $921,537.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Principal Co Lp Starboard sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.17, for a total value of $1,225,500.00. Following the sale, the insider now owns 276,595 shares in the company, valued at approximately $2,259,781.15. The disclosure for this sale can be found here. Company insiders own 11.80% of the company’s stock.

Institutional Investors Weigh In On Green Dot

Institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its position in Green Dot by 48.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,934,157 shares of the financial services provider’s stock worth $46,419,000 after purchasing an additional 954,860 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Green Dot by 360.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 777,929 shares of the financial services provider’s stock worth $10,837,000 after buying an additional 609,084 shares during the period. Wellington Management Group LLP bought a new stake in shares of Green Dot during the 3rd quarter worth about $7,869,000. Norges Bank bought a new stake in shares of Green Dot during the 4th quarter worth about $7,820,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Green Dot by 56.5% during the 1st quarter. Federated Hermes Inc. now owns 1,241,717 shares of the financial services provider’s stock worth $34,122,000 after buying an additional 448,144 shares during the period. 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.