Green Dot (GDOT) Sets New 12-Month High After Earnings Beat

Green Dot Co. (NYSE:GDOT) shares reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $92.40 and last traded at $91.80, with a volume of 635041 shares. The stock had previously closed at $86.02.

The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.13. Green Dot had a return on equity of 14.26% and a net margin of 12.73%. The business had revenue of $230.58 million during the quarter, compared to analyst estimates of $223.95 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year.

Several brokerages have weighed in on GDOT. Craig Hallum set a $115.00 target price on Green Dot and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank set a $79.00 target price on Green Dot and gave the company a “hold” rating in a research note on Thursday. ValuEngine downgraded Green Dot from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded Green Dot from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Finally, Guggenheim reaffirmed a “buy” rating and set a $88.00 target price on shares of Green Dot in a research note on Thursday, August 9th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Green Dot currently has a consensus rating of “Buy” and an average target price of $86.75.

In other news, CAO Jess Unruh sold 2,147 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $76.27, for a total value of $163,751.69. Following the sale, the chief accounting officer now owns 71,350 shares of the company’s stock, valued at approximately $5,441,864.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven W. Streit sold 43,396 shares of the business’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $87.02, for a total value of $3,776,319.92. Following the completion of the sale, the insider now directly owns 236,471 shares in the company, valued at approximately $20,577,706.42. The disclosure for this sale can be found here. Insiders sold a total of 386,922 shares of company stock worth $31,744,662 in the last three months. Company insiders own 11.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of GDOT. Victory Capital Management Inc. bought a new stake in shares of Green Dot in the 3rd quarter worth $56,810,000. BlackRock Inc. raised its position in shares of Green Dot by 9.1% during the second quarter. BlackRock Inc. now owns 7,231,132 shares of the financial services provider’s stock worth $530,692,000 after purchasing an additional 601,340 shares during the period. Voya Investment Management LLC raised its position in shares of Green Dot by 1,683.7% during the second quarter. Voya Investment Management LLC now owns 499,775 shares of the financial services provider’s stock worth $36,678,000 after purchasing an additional 471,756 shares during the period. KAMES CAPITAL plc raised its position in shares of Green Dot by 146.8% during the third quarter. KAMES CAPITAL plc now owns 704,566 shares of the financial services provider’s stock worth $62,580,000 after purchasing an additional 419,034 shares during the period. Finally, FMR LLC raised its position in shares of Green Dot by 284.0% during the second quarter. FMR LLC now owns 409,600 shares of the financial services provider’s stock worth $30,061,000 after purchasing an additional 302,936 shares during the period. 84.62% of the stock is currently owned by institutional investors.

The stock has a market capitalization of $4.23 billion, a PE ratio of 58.26 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.06.

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About Green Dot (NYSE:GDOT)

Green Dot Corporation, together with its subsidiaries, operates as a pro-consumer bank holding company that provides personal banking for the masses. It operates through two segments, Account Services and Processing, and Settlement Services. The company offers deposit as account programs, such reloadable prepaid debit cards under the consumer brand names of GPR cards, consumer checking accounts, small business checking accounts, network-branded gift cards, secured credit cards, and other financial services.

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