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

Green Dot (NYSE:GDOT) announced its quarterly earnings data 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. The company had revenue of $591.29 million for the quarter, compared to analysts’ expectations of $541.16 million. Green Dot had a negative net margin of 3.25% and a positive return on equity of 7.56%.

Green Dot Stock Up 1.0%

GDOT stock traded up $0.13 during trading hours on Tuesday, hitting $13.39. The company’s stock had a trading volume of 65,868 shares, compared to its average volume of 536,997. The stock has a 50 day moving average price of $13.17 and a two-hundred day moving average price of $12.38. Green Dot has a 12 month low of $10.10 and a 12 month high of $15.41. The company has a market capitalization of $758.95 million, a PE ratio of -10.13 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.07.

Analyst Ratings Changes

GDOT has been the subject of a number of research reports. Zacks Research lowered shares of Green Dot from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.12.

Institutional Investors Weigh In On Green Dot

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

About Green Dot

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.