Jacobs Asset Management LLC Raises Position in Green Dot Corporation $GDOT

Jacobs Asset Management LLC grew its holdings in Green Dot Corporation (NYSE:GDOT) by 115.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 225,000 shares of the financial services provider’s stock after buying an additional 120,464 shares during the quarter. Green Dot comprises about 1.5% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 25th largest holding. Jacobs Asset Management LLC’s holdings in Green Dot were worth $2,524,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GDOT. Summit Securities Group LLC acquired a new stake in shares of Green Dot in the fourth quarter valued at $66,000. Tower Research Capital LLC TRC increased its holdings in Green Dot by 23.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,221 shares during the period. Caxton Associates LLP purchased a new stake in Green Dot during the 1st quarter worth about $96,000. OLD National Bancorp IN acquired a new stake in Green Dot in the 4th quarter valued at about $128,000. Finally, DRW Securities LLC acquired a new stake in Green Dot in the 4th quarter valued at about $154,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GDOT. Weiss Ratings reissued a “sell (d-)” rating on shares of Green Dot in a research report on Friday, July 17th. Zacks Research lowered shares of Green Dot from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.12.

Green Dot Stock Up 1.3%

Shares of NYSE:GDOT opened at $13.27 on Friday. The company has a market capitalization of $752.14 million, a PE ratio of -10.05 and a beta of 0.83. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.07. Green Dot Corporation has a twelve month low of $9.31 and a twelve month high of $15.41. The firm has a 50 day simple moving average of $13.08 and a 200-day simple moving average of $12.32.

Green Dot (NYSE:GDOT) last issued its earnings results on Monday, May 11th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.24. The business had revenue of $652.03 million during the quarter, compared to analysts’ expectations of $597.39 million. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%. On average, equities analysts predict that Green Dot Corporation will post 1.33 EPS for the current fiscal year.

Green Dot Profile

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.