Green Dot (NYSE:GDOT) Shares Down 4.9%

Green Dot Co. (NYSE:GDOT) shares dropped 4.9% during mid-day trading on Tuesday . The company traded as low as $11.10 and last traded at $11.11. Approximately 120,082 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 573,379 shares. The stock had previously closed at $11.68.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $11.00 price target on shares of Green Dot in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Green Dot currently has a consensus rating of “Hold” and an average target price of $10.75.

Green Dot Stock Performance

The stock has a market cap of $591.16 million, a price-to-earnings ratio of -23.89 and a beta of 0.91. The stock’s 50-day simple moving average is $10.09 and its two-hundred day simple moving average is $9.49.

Green Dot (NYSE:GDOT) last announced its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $407.10 million for the quarter, compared to the consensus estimate of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. Green Dot’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. As a group, research analysts predict that Green Dot Co. will post 1 earnings per share for the current year.

Institutional Investors Weigh In On Green Dot

A number of institutional investors have recently added to or reduced their stakes in the stock. Kent Lake Capital LLC bought a new stake in shares of Green Dot in the 1st quarter worth about $7,464,000. SG Capital Management LLC bought a new stake in Green Dot during the first quarter worth about $4,254,000. American Century Companies Inc. increased its holdings in shares of Green Dot by 79.0% during the second 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 in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Green Dot by 24.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock valued at $4,965,000 after acquiring an additional 104,829 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Green Dot by 11.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 923,176 shares of the financial services provider’s stock worth $8,613,000 after acquiring an additional 97,040 shares in the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.

Green Dot Company Profile

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.