Green Dot (GDOT) Upgraded at Zacks Investment Research

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Green Dot (NYSE:GDOT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $80.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 6.89% from the stock’s current price.

According to Zacks, “Green Dot’s long-term strategic plan to be a ‘New Kind of Bank’ is leading to impressive results. Strength across established product lines and BaaS platform programs are the key drivers of growth. The company’s Banking as a Service or BaaS platform programs are growing very quickly and contributing significantly to Green Dot’s GDV growth, active card growth and revenue growth. The company’s long-lasting relationship with Walmart is a key catalyst behind its operating revenue growth. Shares of the company have outperformed its industry in the past year. Despite such positives, Green Dot experiences fluctuation in revenues due to seasonal factors. The company has never declared and currently do not have any plan to pay cash dividends on common stock.”

Several other research firms also recently issued reports on GDOT. Craig Hallum set a $115.00 price target on shares of Green Dot and gave the company a “buy” rating in a research note on Thursday, November 8th. Deutsche Bank set a $79.00 price target on shares of Green Dot and gave the company a “hold” rating in a research note on Thursday, November 8th. Citigroup set a $105.00 price target on shares of Green Dot and gave the company a “buy” rating in a research note on Friday, November 9th. Barclays assumed coverage on shares of Green Dot in a research note on Wednesday, November 14th. They set an “overweight” rating and a $103.00 price target for the company. Finally, ValuEngine downgraded shares of Green Dot from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Green Dot currently has a consensus rating of “Buy” and an average target price of $90.69.

Shares of GDOT stock traded up $3.02 during trading hours on Tuesday, hitting $74.84. 443,323 shares of the company’s stock traded hands, compared to its average volume of 792,868. The company has a market capitalization of $3.88 billion, a P/E ratio of 47.37 and a beta of 0.73. Green Dot has a 12 month low of $55.40 and a 12 month high of $93.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.04.

In related news, insider Jess Unruh sold 2,147 shares of Green Dot stock in a transaction on Friday, February 1st. The shares were sold at an average price of $75.29, for a total transaction of $161,647.63. Following the completion of the transaction, the insider now owns 62,930 shares of the company’s stock, valued at $4,737,999.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven W. Streit sold 29,580 shares of Green Dot stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $80.24, for a total transaction of $2,373,499.20. Following the transaction, the insider now directly owns 55,001 shares of the company’s stock, valued at approximately $4,413,280.24. The disclosure for this sale can be found here. Insiders have sold 111,749 shares of company stock valued at $8,962,667 in the last three months. 9.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ffcm LLC acquired a new position in shares of Green Dot during the fourth quarter valued at about $27,000. Legacy Financial Advisors Inc. acquired a new position in shares of Green Dot during the fourth quarter valued at about $29,000. Pearl River Capital LLC acquired a new position in shares of Green Dot during the fourth quarter valued at about $40,000. Ipswich Investment Management Co. Inc. acquired a new position in shares of Green Dot during the fourth quarter valued at about $70,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Green Dot during the third quarter valued at about $161,000. 91.10% of the stock is owned by institutional investors and hedge funds.

Green Dot Company Profile

Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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