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

Key Points

• Green Dot reported quarterly EPS of $0.26, missing the $0.37 analyst consensus by $0.11. Revenue reached $591.29 million, exceeding estimates of $541.16 million, though the company posted a negative net margin of 3.25%.
• Shares rose 1.0% to $13.39 following the results, with the stock trading between a 52-week range of $10.10 and $15.41.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and a $16.12 target price. Institutional investors own 92.56% of Green Dot’s outstanding shares.

Green Dot (NYSE:GDOT - Get Free Report) released its earnings results on Monday. The financial services provider reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11), FiscalAI reports. Green Dot had a positive return on equity of 7.56% and a negative net margin of 3.25%.The business had revenue of $591.29 million during the quarter, compared to the consensus estimate of $541.16 million.

Green Dot Trading Up 1.0%

NYSE GDOT traded up $0.13 on Tuesday, hitting $13.39. 65,868 shares of the stock were exchanged, compared to its average volume of 536,997. Green Dot has a 52-week low of $10.10 and a 52-week high of $15.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market capitalization of $758.95 million, a price-to-earnings ratio of -10.13 and a beta of 0.84. The company's 50-day moving average price is $13.17 and its two-hundred day moving average price is $12.38.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GDOT. Zacks Research lowered shares of Green Dot from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Green Dot in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Green Dot has a consensus rating of "Hold" and a consensus target price of $16.12.

Institutional Trading of Green Dot

Hedge funds and other institutional investors have recently modified their holdings of the business. Topline Capital Management LLC raised its position in Green Dot by 7.2% during the second quarter. Topline Capital Management LLC now owns 4,965,286 shares of the financial services provider's stock valued at $53,526,000 after buying an additional 331,817 shares during the period. No Street GP LP boosted its position in Green Dot by 150.0% during the 3rd quarter. No Street GP LP now owns 4,000,000 shares of the financial services provider's stock worth $53,720,000 after acquiring an additional 2,400,000 shares during the period. Steel Partners Holdings L.P. acquired a new stake in Green Dot during the 4th quarter worth about $48,332,000. Dimensional Fund Advisors LP grew its stake in Green Dot by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,836,651 shares of the financial services provider's stock valued at $36,338,000 after acquiring an additional 56,547 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Green Dot by 0.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,226,244 shares of the financial services provider's stock valued at $16,468,000 after acquiring an additional 3,121 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company's stock.

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.

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