Green Dot (NYSE:GDOT) Shares Down 2.7% on Analyst Downgrade

Posted by on Sep 20th, 2023

Green Dot Co. (NYSE:GDOT – Get Free Report) shares were down 2.7% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $19.00 to $16.00. Barclays currently has an equal weight rating on the stock. Green Dot traded as low as $13.89 and last traded at $13.89. Approximately 19,280 shares traded hands during trading, a decline of 94% from the average daily volume of 325,076 shares. The stock had previously closed at $14.27.

Several other equities analysts also recently commented on the stock. StockNews.com began coverage on shares of Green Dot in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Truist Financial boosted their price target on shares of Green Dot from $22.00 to $24.00 in a research note on Wednesday, July 19th. Finally, BTIG Research began coverage on Green Dot in a research report on Tuesday, June 13th. They set a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.50.

Check Out Our Latest Stock Report on Green Dot

Hedge Funds Weigh In On Green Dot

Several institutional investors have recently bought and sold shares of GDOT. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Green Dot by 48.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,934,157 shares of the financial services provider’s stock valued at $46,419,000 after acquiring an additional 954,860 shares during the last quarter. Norges Bank bought a new stake in shares of Green Dot in the 4th quarter valued at approximately $7,820,000. Federated Hermes Inc. boosted its holdings in shares of Green Dot by 56.5% in the 1st quarter. Federated Hermes Inc. now owns 1,241,717 shares of the financial services provider’s stock worth $34,122,000 after purchasing an additional 448,144 shares during the period. Morgan Stanley increased its position in shares of Green Dot by 97.7% during the 4th quarter. Morgan Stanley now owns 871,076 shares of the financial services provider’s stock valued at $13,780,000 after purchasing an additional 430,580 shares during the last quarter. Finally, UBS Group AG raised its holdings in Green Dot by 26.8% during the 1st quarter. UBS Group AG now owns 1,840,583 shares of the financial services provider’s stock valued at $31,621,000 after buying an additional 389,248 shares during the period. Institutional investors own 92.12% of the company’s stock.

Green Dot Price Performance

The business has a 50-day moving average of $16.66 and a 200-day moving average of $17.23. The company has a market capitalization of $738.14 million, a P/E ratio of 15.67 and a beta of 1.06.

Green Dot (NYSE:GDOT – Get Free Report) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.20. The firm had revenue of $361.14 million during the quarter, compared to analyst estimates of $332.39 million. Green Dot had a net margin of 3.21% and a return on equity of 10.25%. Sell-side analysts predict that Green Dot Co. will post 1.22 EPS for the current fiscal year.

About Green Dot

(Get Free Report)

Green Dot Corporation, a financial technology and 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 offers deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.

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