Green Dot (NYSE:GDOT) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Green Dot (NYSE:GDOTGet Rating) posted its quarterly earnings results on Thursday. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.22, Briefing.com reports. Green Dot had a net margin of 3.52% and a return on equity of 9.70%. The firm had revenue of $362.80 million for the quarter, compared to the consensus estimate of $362.08 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. Green Dot updated its FY 2022 guidance to $2.35-$2.49 EPS and its FY22 guidance to $2.35-2.49 EPS.

Green Dot Trading Down 13.4 %

Shares of Green Dot stock traded down $3.78 during trading on Friday, reaching $24.52. The company’s stock had a trading volume of 1,492,900 shares, compared to its average volume of 351,538. The stock has a 50-day moving average price of $26.33 and a two-hundred day moving average price of $27.75. Green Dot has a one year low of $22.27 and a one year high of $54.90. The stock has a market capitalization of $1.33 billion, a P/E ratio of 26.95 and a beta of 0.95.

Analyst Ratings Changes

Separately, Needham & Company LLC reduced their target price on shares of Green Dot from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Insider Activity at Green Dot

In other Green Dot news, Director Rajeev V. Date sold 6,214 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $29.20, for a total transaction of $181,448.80. Following the completion of the sale, the director now directly owns 19,440 shares of the company’s stock, valued at approximately $567,648. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,714 shares of company stock valued at $220,024 over the last ninety days. 2.90% of the stock is owned by insiders.

Institutional Trading of Green Dot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its holdings in Green Dot by 42.4% during the 1st quarter. Quantbot Technologies LP now owns 17,399 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 5,182 shares during the last quarter. Renaissance Technologies LLC bought a new position in Green Dot during the 1st quarter worth approximately $500,000. MetLife Investment Management LLC boosted its stake in Green Dot by 56.2% during the 1st quarter. MetLife Investment Management LLC now owns 28,859 shares of the financial services provider’s stock worth $793,000 after acquiring an additional 10,382 shares during the last quarter. Bank of Montreal Can boosted its stake in Green Dot by 93.5% during the 1st quarter. Bank of Montreal Can now owns 30,069 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 14,530 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Green Dot by 189.0% during the 1st quarter. First Trust Advisors LP now owns 33,563 shares of the financial services provider’s stock worth $922,000 after acquiring an additional 21,951 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

Green Dot Company Profile

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Green Dot Corporation, a financial technology and bank holding company, provides various financial products 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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Earnings History for Green Dot (NYSE:GDOT)

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