Brokerages Set Green Dot Corporation (NYSE:GDOT) PT at $14.75

Shares of Green Dot Corporation (NYSE:GDOT) have earned a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.75.

GDOT has been the subject of several research reports. Zacks Research upgraded shares of Green Dot from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Craig Hallum restated a “buy” rating and issued a $18.00 price objective on shares of Green Dot in a research report on Tuesday, March 17th.

Institutional Investors Weigh In On Green Dot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Green Dot by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,801 shares of the financial services provider’s stock worth $268,000 after buying an additional 1,341 shares during the period. Caxton Associates LLP acquired a new stake in shares of Green Dot during the 1st quarter worth approximately $96,000. Empowered Funds LLC grew its position in shares of Green Dot by 7.2% during the 1st quarter. Empowered Funds LLC now owns 198,919 shares of the financial services provider’s stock worth $1,679,000 after buying an additional 13,437 shares during the period. Jane Street Group LLC grew its position in shares of Green Dot by 235.6% during the 1st quarter. Jane Street Group LLC now owns 447,546 shares of the financial services provider’s stock worth $3,777,000 after buying an additional 314,208 shares during the period. Finally, Creative Planning acquired a new stake in shares of Green Dot during the 2nd quarter worth approximately $287,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Green Dot Trading Up 0.3%

Shares of GDOT stock opened at $12.79 on Wednesday. Green Dot has a 12-month low of $9.31 and a 12-month high of $15.41. The company has a market capitalization of $724.65 million, a P/E ratio of -9.69 and a beta of 0.86. The firm has a 50-day moving average price of $12.55 and a 200 day moving average price of $12.26. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.07.

Green Dot (NYSE:GDOT) last announced its quarterly 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 firm had revenue of $652.03 million during the quarter, compared to the consensus estimate of $597.39 million. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%. Research analysts forecast that Green Dot will post 1.33 earnings per share for the current fiscal year.

About Green Dot

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.