Green Dot (GDOT) Trading 6.9% Higher

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Green Dot Co. (NYSE:GDOT)’s share price traded up 6.9% on Wednesday . The stock traded as high as $86.84 and last traded at $86.02. 763,781 shares changed hands during mid-day trading, an increase of 112% from the average session volume of 359,921 shares. The stock had previously closed at $80.46.

Several equities analysts have weighed in on the company. Craig Hallum reaffirmed a “buy” rating on shares of Green Dot in a report on Friday, September 14th. Loop Capital lifted their price objective on Green Dot to $100.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Zacks Investment Research cut Green Dot from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Guggenheim reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Green Dot in a report on Thursday, August 9th. Finally, Jefferies Financial Group lifted their price objective on Green Dot from $89.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Green Dot has an average rating of “Buy” and an average price target of $83.00.

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.14 billion, a P/E ratio of 54.44 and a beta of 1.06.

Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Green Dot had a return on equity of 14.26% and a net margin of 12.73%. The company had revenue of $258.30 million during the quarter, compared to analysts’ expectations of $250.18 million. During the same quarter in the previous year, the firm earned $0.55 EPS. Green Dot’s revenue was up 16.1% on a year-over-year basis. On average, equities research analysts anticipate that Green Dot Co. will post 2.4 earnings per share for the current year.

In other news, insider Steven W. Streit sold 29,580 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $74.96, for a total transaction of $2,217,316.80. Following the completion of the transaction, the insider now owns 112,059 shares of the company’s stock, valued at approximately $8,399,942.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jess Unruh sold 2,147 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $76.27, for a total value of $163,751.69. Following the transaction, the chief accounting officer now directly owns 71,350 shares of the company’s stock, valued at approximately $5,441,864.50. The disclosure for this sale can be found here. Insiders have sold a total of 386,922 shares of company stock valued at $31,744,662 in the last three months. 9.70% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. James Investment Research Inc. acquired a new position in Green Dot in the 2nd quarter worth about $101,000. Bank of Montreal Can acquired a new position in Green Dot in the 2nd quarter worth about $165,000. Harvest Fund Management Co. Ltd acquired a new position in Green Dot in the 3rd quarter worth about $165,000. Everence Capital Management Inc. acquired a new position in Green Dot in the 2nd quarter worth about $228,000. Finally, Adviser Investments LLC increased its holdings in Green Dot by 361.8% in the 2nd quarter. Adviser Investments LLC now owns 3,450 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 2,703 shares in the last quarter. 84.62% of the stock is owned by institutional investors.

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About Green Dot (NYSE:GDOT)

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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