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. It also provides money processing services, such as cash transfer services that enable consumers to deposit or pick up cash and pay bills with cash at the point-of-sale at any participating retailer; and simply paid disbursement services, which enable wages and authorized funds disbursement to its deposit account programs and accounts issued by any third-party bank or program manager. In addition, the company offers tax processing services comprising tax refund transfers, which provide the processing technology to facilitate receipt of a taxpayers' refund proceeds; small business lending to independent tax preparation providers that seek small advances; and fast cash advance, a loan that enables tax refund recipients. Green Dot Corporation was incorporated in 1999 and is headquartered in Austin, Texas.
Green Dot Stock Performance
Shares of GDOT Stock traded up $0.09 during trading on Friday, hitting $23.63. 358,821 shares of the company were exchanged, compared to its average volume of 475,702. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.97 and a beta of 0.95. The business's 50-day simple moving average is $25.83 and its 200 day simple moving average is $27.41. Green Dot has a twelve month low of $22.27 and a twelve month high of $54.90.
Green Dot (NYSE:GDOT - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.52 by $0.22. The business had revenue of $362.80 million during the quarter, compared to analysts' expectations of $362.08 million. Green Dot had a net margin of 3.52% and a return on equity of 10.03%. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. On average, equities analysts forecast that Green Dot will post 1.86 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have commented on the stock. Citigroup raised their target price on shares of Green Dot to $28.00 in a report on Tuesday, August 9th. Needham & Company LLC decreased their target price on shares of Green Dot from $35.00 to $30.00 and set a "buy" rating for the company in a report on Friday, August 5th. Finally, Barclays decreased their target price on shares of Green Dot to $31.00 in a report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.17.
Insider Buying and Selling
In related news, Director Rajeev V. Date sold 6,214 shares of the firm's stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $29.20, for a total transaction of $181,448.80. Following the transaction, the director now owns 19,440 shares of the company's stock, valued at $567,648. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 7,714 shares of company stock worth $220,024. 2.90% of the stock is owned by company insiders.