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

Green Dot (NYSE:GDOT) posted its earnings results on Monday. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.24, FiscalAI reports. Green Dot had a negative net margin of 4.75% and a positive return on equity of 6.93%. The business had revenue of $652.03 million for the quarter, compared to analyst estimates of $597.39 million.

Green Dot Stock Down 1.5%

Shares of GDOT stock traded down $0.19 on Monday, hitting $12.43. The stock had a trading volume of 443,498 shares, compared to its average volume of 606,976. The stock’s 50 day moving average is $11.63 and its 200-day moving average is $12.07. The firm has a market capitalization of $690.51 million, a price-to-earnings ratio of -6.98 and a beta of 0.86. Green Dot has a 52-week low of $8.95 and a 52-week high of $15.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.52 and a current ratio of 0.52.

Analysts Set New Price Targets

Several analysts recently issued reports on GDOT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Green Dot in a report on Tuesday, April 21st. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 target price on shares of Green Dot in a research report on Tuesday, March 17th. Finally, Wall Street Zen upgraded Green Dot from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $13.56.

Hedge Funds Weigh In On Green Dot

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GDOT. Summit Securities Group LLC acquired a new stake in shares of Green Dot during the fourth quarter valued at about $66,000. Tower Research Capital LLC TRC boosted 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 valued at $70,000 after purchasing an additional 1,221 shares during the last quarter. Caxton Associates LLP purchased a new position in Green Dot in the first quarter valued at about $96,000. DRW Securities LLC acquired a new stake in Green Dot during the 4th quarter valued at approximately $154,000. Finally, Zacks Investment Management acquired a new stake in Green Dot during the 3rd quarter valued at approximately $188,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

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.