M3F Inc. Takes Position in Green Dot Corporation $GDOT

by · The Cerbat Gem

M3F Inc. purchased a new position in Green Dot Corporation (NYSE:GDOT – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 748,806 shares of the financial services provider’s stock, valued at approximately $8,402,000. Green Dot makes up about 2.1% of M3F Inc.’s investment portfolio, making the stock its 14th biggest holding. M3F Inc. owned about 1.35% of Green Dot as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio boosted its holdings in Green Dot by 10.0% in the first quarter. Strs Ohio now owns 55,100 shares of the financial services provider’s stock worth $618,000 after acquiring an additional 5,000 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Green Dot during the first quarter valued at $1,633,000. OLD National Bancorp IN raised its position in shares of Green Dot by 17.6% in the 1st quarter. OLD National Bancorp IN now owns 11,766 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,763 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Green Dot by 747.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 474,968 shares of the financial services provider’s stock worth $5,329,000 after purchasing an additional 418,906 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in Green Dot in the 4th quarter worth about $286,000. Institutional investors own 92.56% of the company’s stock.

Green Dot Price Performance

NYSE GDOT opened at $13.33 on Monday. Green Dot Corporation has a one year low of $9.31 and a one year high of $15.41. The stock has a 50-day moving average of $12.82 and a 200 day moving average of $12.27. The company has a market capitalization of $755.32 million, a price-to-earnings ratio of -10.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.50 and a current ratio of 0.50.

Green Dot (NYSE:GDOT – Get Free Report) last posted its earnings results on Monday, May 11th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.24. The business had revenue of $652.03 million for the quarter, compared to analysts’ expectations of $597.39 million. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%. On average, sell-side analysts forecast that Green Dot Corporation will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GDOT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Green Dot in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Green Dot from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Zacks Research upgraded shares of Green Dot from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Finally, Craig Hallum restated a “buy” rating and issued a $18.00 price objective on shares of Green Dot in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.75.

View Our Latest Analysis on Green Dot

Green Dot Company Profile

(Free Report)

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.

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