Green Dot (NYSE:GDOT) Releases Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Green Dot (NYSE:GDOT) released its quarterly earnings results on Monday. The financial services provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.24, FiscalAI reports. The business had revenue of $652.03 million during the quarter, compared to analysts’ expectations of $597.39 million. Green Dot had a positive return on equity of 7.63% and a negative net margin of 3.25%.

Green Dot Stock Up 0.4%

Shares of Green Dot stock traded up $0.05 on Wednesday, reaching $12.65. 140,866 shares of the company were exchanged, compared to its average volume of 602,201. Green Dot has a 1-year low of $8.95 and a 1-year high of $15.41. The company has a market cap of $702.68 million, a P/E ratio of -9.58 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.52 and a quick ratio of 0.52. The stock’s 50 day moving average price is $11.68 and its 200-day moving average price is $12.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steel Partners Holdings L.P. purchased a new stake in shares of Green Dot in the 4th quarter valued at approximately $48,332,000. No Street GP LP grew its stake in shares of Green Dot by 150.0% during the third quarter. No Street GP LP now owns 4,000,000 shares of the financial services provider’s stock worth $53,720,000 after purchasing an additional 2,400,000 shares in the last quarter. Oberweis Asset Management Inc. acquired a new position in shares of Green Dot during the third quarter worth $13,031,000. Weiss Asset Management LP purchased a new position in Green Dot in the fourth quarter valued at $10,801,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Green Dot in the fourth quarter valued at $8,877,000. Institutional investors and hedge funds own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Craig Hallum reiterated a “buy” rating and set a $18.00 price target on shares of Green Dot in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised Green Dot from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.75.

About Green Dot

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.