Green Dot Corporation (GDOT) Issues Quarterly Earnings Results

Green Dot Corporation (NYSE:GDOT) released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.16, Morningstar.com reports. Green Dot Corporation had a return on equity of 12.13% and a net margin of 7.66%. The business had revenue of $222.50 million during the quarter, compared to analysts’ expectations of $208.59 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. Green Dot Corporation updated its Q3 guidance to $0.25 EPS and its FY17 guidance to $1.99-$2.03 EPS.

Shares of Green Dot Corporation (GDOT) opened at 46.27 on Friday. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 39.35 and a beta of 1.06. The firm has a 50-day moving average price of $41.20 and a 200-day moving average price of $35.38. Green Dot Corporation has a 52 week low of $21.45 and a 52 week high of $47.55.

Several equities research analysts have recently commented on GDOT shares. Lake Street Capital upgraded Green Dot Corporation from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $44.00 in a research note on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of Green Dot Corporation in a research report on Monday, May 22nd. Citigroup Inc. increased their price objective on Green Dot Corporation from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Zacks Investment Research upgraded Green Dot Corporation from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Wednesday, July 12th. Finally, BidaskClub cut Green Dot Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Green Dot Corporation has a consensus rating of “Buy” and an average target price of $41.33.

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In other news, General Counsel John C. Ricci sold 72,248 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $36.21, for a total transaction of $2,616,100.08. Following the completion of the sale, the general counsel now owns 158,594 shares in the company, valued at approximately $5,742,688.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John C. Ricci sold 3,686 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $35.97, for a total value of $132,585.42. Following the sale, the general counsel now owns 90,032 shares of the company’s stock, valued at approximately $3,238,451.04. The disclosure for this sale can be found here. Insiders have sold 186,163 shares of company stock worth $7,408,723 in the last quarter. 11.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new stake in Green Dot Corporation during the second quarter valued at about $108,000. IFP Advisors Inc increased its stake in Green Dot Corporation by 5,537.3% in the second quarter. IFP Advisors Inc now owns 2,875 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,824 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Green Dot Corporation during the first quarter valued at about $118,000. Turner Investments LLC acquired a new position in Green Dot Corporation during the second quarter valued at $154,000. Finally, Riverhead Capital Management LLC boosted its position in Green Dot Corporation by 55.0% in the second quarter. Riverhead Capital Management LLC now owns 4,029 shares of the financial services provider’s stock valued at $155,000 after buying an additional 1,429 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

About Green Dot Corporation

Green Dot Corporation (Green Dot) 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.

Earnings History for Green Dot Corporation (NYSE:GDOT)

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