Zacks Investment Research cut shares of Green Dot Corporation (NYSE:GDOT) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Green Dot Corporation is a technology-centric, pro-consumer Bank Holding Company with a mission to reinvent personal banking for the masses. The company is the largest provider of prepaid debit card products and prepaid card reloading services in the United States, as well as a leader in mobile banking with its GoBank mobile bank account offering. Green Dot Corporation products are available to consumers at more than 80,000 retailers nationwide, online and via the leading app stores. The company is headquartered in Pasadena, California with its bank subsidiary, Green Dot Bank, located in Provo, Utah. “

A number of other research firms have also issued reports on GDOT. Craig Hallum initiated coverage on shares of Green Dot Corporation in a research note on Thursday, October 5th. They issued a buy rating and a $70.00 target price on the stock. ValuEngine upgraded shares of Green Dot Corporation from a hold rating to a buy rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Green Dot Corporation from a hold rating to a buy rating in a research note on Friday, August 11th. SunTrust Banks, Inc. reiterated a buy rating on shares of Green Dot Corporation in a research note on Wednesday, September 20th. Finally, Northland Securities reiterated an outperform rating and issued a $55.00 target price (up from $47.00) on shares of Green Dot Corporation in a research note on Tuesday, September 26th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $47.91.

Green Dot Corporation (NYSE:GDOT) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. The business had revenue of $222.50 million for the quarter, compared to analyst estimates of $208.59 million. During the same period last year, the business posted $0.27 EPS. Green Dot Corporation’s revenue was up 28.2% compared to the same quarter last year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/13/green-dot-corporation-gdot-downgraded-by-zacks-investment-research.html.

In other news, Director Glinda Bridgforth-Hodges sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $46.92, for a total transaction of $351,900.00. Following the completion of the transaction, the director now directly owns 5,003 shares of the company’s stock, valued at approximately $234,740.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven W. Streit sold 7,995 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $46.74, for a total transaction of $373,686.30. Following the transaction, the insider now directly owns 217,010 shares of the company’s stock, valued at $10,143,047.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,192 shares of company stock valued at $7,157,243. Insiders own 11.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of Green Dot Corporation by 113.5% during the 1st quarter. Bank of America Corp DE now owns 198,987 shares of the financial services provider’s stock worth $6,638,000 after acquiring an additional 105,791 shares during the period. BlackRock Inc. lifted its holdings in shares of Green Dot Corporation by 0.7% during the 2nd quarter. BlackRock Inc. now owns 5,348,171 shares of the financial services provider’s stock worth $206,067,000 after acquiring an additional 38,814 shares during the period. GSA Capital Partners LLP bought a new position in shares of Green Dot Corporation during the 2nd quarter worth about $1,319,000. Arizona State Retirement System lifted its holdings in shares of Green Dot Corporation by 2.2% during the 1st quarter. Arizona State Retirement System now owns 23,193 shares of the financial services provider’s stock worth $774,000 after acquiring an additional 500 shares during the period. Finally, KCG Holdings Inc. bought a new position in shares of Green Dot Corporation during the 1st quarter worth about $308,000. 77.43% of the stock is owned by institutional investors.

About Green Dot Corporation

Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.

Get a free copy of the Zacks research report on Green Dot Corporation (GDOT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Green Dot Corporation (NYSE:GDOT)

Receive News & Stock Ratings for Green Dot Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Dot Corporation and related stocks with our FREE daily email newsletter.