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

Green Dot (NYSE:GDOT) had its price target upped by Barclays from $7.00 to $10.00 in a research note issued to investors on Monday, Benzinga reports. Barclays currently has an underweight rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $11.00 price objective on shares of Green Dot in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Green Dot has an average rating of Hold and a consensus price target of $11.50.

Green Dot Trading Down 2.0 %

NYSE:GDOT opened at $11.56 on Monday. The company has a market capitalization of $615.11 million, a P/E ratio of -24.60 and a beta of 0.91. Green Dot has a 12 month low of $7.30 and a 12 month high of $14.10. The firm has a fifty day simple moving average of $10.61 and a 200-day simple moving average of $9.76.

Green Dot (NYSE:GDOT) last issued 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 company had revenue of $407.10 million during the quarter, compared to analysts’ expectations of $381.87 million. Green Dot had a positive return on equity of 4.01% and a negative net margin of 3.41%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. Equities analysts forecast that Green Dot will post 1 EPS for the current year.

Hedge Funds Weigh In On Green Dot

Several institutional investors have recently made changes to their positions in the company. Kent Lake Capital LLC purchased a new position in shares of Green Dot in the 1st quarter valued at about $7,464,000. SG Capital Management LLC acquired a new position in shares of Green Dot during the 1st quarter worth approximately $4,254,000. American Century Companies Inc. raised its stake in shares of Green Dot by 79.0% during the 2nd quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock worth $3,049,000 after buying an additional 142,377 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in shares of Green Dot by 24.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock valued at $4,965,000 after buying an additional 104,829 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Green Dot by 428.0% in the 4th quarter. BNP Paribas Financial Markets now owns 111,524 shares of the financial services provider’s stock valued at $1,104,000 after acquiring an additional 90,402 shares during the period. 92.56% of the stock is owned by hedge funds and other institutional investors.

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.