Green Dot (NYSE:GDOT) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Green Dot (NYSE:GDOT) issued its quarterly earnings results on Monday, August 10th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11), FiscalAI reports. The business had revenue of $591.29 million for the quarter, compared to analyst estimates of $541.16 million. Green Dot had a positive return on equity of 6.92% and a negative net margin of 1.14%.

Green Dot Price Performance

Shares of NYSE GDOT traded up $0.01 during midday trading on Thursday, hitting $13.37. The company had a trading volume of 52,071 shares, compared to its average volume of 527,836. Green Dot has a twelve month low of $10.10 and a twelve month high of $15.41. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $761.73 million, a price-to-earnings ratio of -26.21 and a beta of 0.84. The business has a 50-day simple moving average of $13.32 and a two-hundred day simple moving average of $12.49.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in Green Dot in the 4th quarter valued at about $66,000. Tower Research Capital LLC TRC lifted its holdings in Green Dot by 23.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,504 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 1,221 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Green Dot during the first quarter valued at approximately $96,000. DRW Securities LLC bought a new stake in Green Dot in the fourth quarter valued at $154,000. Finally, Zacks Investment Management bought a new position in shares of Green Dot during the third quarter worth about $188,000. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GDOT has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Green Dot from a “hold” rating to a “strong sell” rating in a report on Friday, August 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $16.12.

Green Dot Company Profile

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.