Green Dot (NYSE:GDOT – Get Rating) announced its quarterly earnings results on Thursday. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.22, Briefing.com reports. The firm had revenue of $362.80 million for the quarter, compared to the consensus estimate of $362.08 million. Green Dot had a net margin of 3.52% and a return on equity of 9.70%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 earnings per share. 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 Stock Down 13.4 %
Shares of NYSE:GDOT traded down $3.78 during midday trading on Friday, hitting $24.52. 1,492,900 shares of the stock traded hands, compared to its average volume of 351,538. The business’s 50 day moving average is $26.33 and its two-hundred day moving average is $27.75. The stock has a market capitalization of $1.33 billion, a PE ratio of 26.95 and a beta of 0.95. Green Dot has a one year low of $22.27 and a one year high of $54.90.
Analyst Ratings Changes
Separately, Needham & Company LLC reduced their price target on shares of Green Dot from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.80.
Insider Buying and Selling
Institutional Trading of Green Dot
A number of hedge funds have recently modified their holdings of GDOT. Quantbot Technologies LP grew its position 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 valued at $478,000 after purchasing an additional 5,182 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Green Dot during the first quarter valued at approximately $500,000. MetLife Investment Management LLC raised its holdings in Green Dot by 56.2% in 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 lifted its position in Green Dot by 93.5% in the 1st quarter. Bank of Montreal Can now owns 30,069 shares of the financial services provider’s stock valued at $832,000 after acquiring an additional 14,530 shares in 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 valued at $922,000 after purchasing an additional 21,951 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.
About Green Dot
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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