Green Dot Corp. (GDOT) Announces Earnings Results, Beats Estimates By $0.04 EPS
Green Dot Corp. (NYSE:GDOT) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04. Green Dot Corp. had a return on equity of 7.80% and a net margin of 5.01%. The firm had revenue of $154.60 million for the quarter, compared to analyst estimates of $151.72 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. Green Dot Corp.’s quarterly revenue was up 5.5% on a year-over-year basis.
Green Dot Corp. (NYSE:GDOT) opened at 22.25 on Friday. Green Dot Corp. has a 1-year low of $15.28 and a 1-year high of $24.41. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 33.41 and a beta of 1.05. The company has a 50-day moving average price of $22.56 and a 200 day moving average price of $22.87.
In related news, CRO Konstantinos Sgoutas sold 30,288 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $22.95, for a total value of $695,109.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark L. Shifke sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $22.77, for a total value of $113,850.00. Following the completion of the sale, the chief financial officer now owns 809,845 shares in the company, valued at $18,440,170.65. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of GDOT. Swiss National Bank boosted its stake in Green Dot Corp. by 13.7% in the second quarter. Swiss National Bank now owns 74,100 shares of the financial services provider’s stock valued at $1,704,000 after buying an additional 8,900 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Green Dot Corp. by 151.7% in the second quarter. Bank of New York Mellon Corp now owns 2,135,036 shares of the financial services provider’s stock valued at $49,084,000 after buying an additional 1,286,734 shares during the period. New York State Teachers Retirement System boosted its position in shares of Green Dot Corp. by 17.3% in the second quarter. New York State Teachers Retirement System now owns 79,483 shares of the financial services provider’s stock valued at $1,827,000 after buying an additional 11,700 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Green Dot Corp. during the second quarter valued at about $456,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Green Dot Corp. by 0.9% in the second quarter. Nisa Investment Advisors LLC now owns 22,000 shares of the financial services provider’s stock valued at $506,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.
A number of research analysts recently weighed in on the company. Morgan Stanley set a $23.00 price objective on Green Dot Corp. and gave the stock a “hold” rating in a report on Friday, August 5th. Keefe, Bruyette & Woods boosted their target price on Green Dot Corp. from $23.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, August 8th. BTIG Research reiterated a “hold” rating on shares of Green Dot Corp. in a research report on Friday, August 5th. TheStreet downgraded Green Dot Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, Jefferies Group reiterated a “buy” rating and set a $28.00 target price on shares of Green Dot Corp. in a research report on Friday, August 5th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $24.80.
About Green Dot Corp.
Green Dot Corporation, along with its subsidiaries, 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.
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