Green Dot (NYSE:GDOT) Stock Price Up 9.6%

Green Dot Co. (NYSE:GDOT) shares shot up 9.6% during trading on Monday . The company traded as high as $11.62 and last traded at $11.57. 653,637 shares were traded during trading, an increase of 14% from the average session volume of 573,213 shares. The stock had previously closed at $10.56.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $11.00 price target on shares of Green Dot in a research 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.75.

Green Dot Price Performance

The firm has a fifty day moving average of $10.09 and a 200 day moving average of $9.49. The stock has a market capitalization of $589.03 million, a price-to-earnings ratio of -23.60 and a beta of 0.91.

Green Dot (NYSE:GDOT) last issued its quarterly earnings data 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. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The business had revenue of $407.10 million for the quarter, compared to analysts’ expectations of $381.87 million. During the same quarter last year, the company earned $0.20 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Research analysts predict that Green Dot Co. will post 1 EPS for the current year.

Institutional Investors Weigh In On Green Dot

Several hedge funds have recently modified their holdings of GDOT. Kent Lake Capital LLC acquired a new stake in Green Dot in the 1st quarter valued at $7,464,000. SG Capital Management LLC acquired a new stake in shares of Green Dot in the first quarter valued at about $4,254,000. American Century Companies Inc. increased its stake 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 purchasing an additional 142,377 shares in the last quarter. Thompson Siegel & Walmsley LLC raised 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 worth $4,965,000 after purchasing an additional 104,829 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Green Dot by 11.7% during 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 purchasing an additional 97,040 shares during the last quarter. 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.