Barclays Raises Green Dot (NYSE:GDOT) Price Target to $10.00

Green Dot (NYSE:GDOT) had its target price boosted by Barclays from $7.00 to $10.00 in a research report report published on Monday morning, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods reissued a market perform rating and set a $11.00 target price on shares of Green Dot in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Green Dot currently has a consensus rating of Hold and a consensus price target of $11.50.

Green Dot Stock Down 2.0 %

NYSE GDOT opened at $11.56 on Monday. Green Dot has a 52 week low of $7.30 and a 52 week high of $14.10. The firm has a market capitalization of $615.11 million, a price-to-earnings ratio of -24.60 and a beta of 0.91. The company has a fifty day moving average of $10.61 and a two-hundred day moving average of $9.76.

Green Dot (NYSE:GDOT) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $407.10 million during 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%. During the same period in the previous year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Green Dot will post 1 EPS for the current year.

Hedge Funds Weigh In On Green Dot

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. grew its holdings in Green Dot by 7.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 21,130 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 1,430 shares in the last quarter. Quarry LP purchased a new stake in shares of Green Dot in the 2nd quarter worth approximately $32,000. Algert Global LLC lifted its position in shares of Green Dot by 4.0% in the 2nd quarter. Algert Global LLC now owns 125,524 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 4,774 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Green Dot by 12.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,125 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 2,331 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Green Dot during the second quarter valued at approximately $232,000. Institutional investors own 92.56% of the company’s stock.

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.