Green Dot (NYSE:GDOT) Issues FY 2022 Earnings Guidance

Green Dot (NYSE:GDOT – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $2.32-$2.46 for the period, compared to the consensus EPS estimate of $2.29. The company issued revenue guidance of $1.39 billion-$1.43 billion, compared to the consensus revenue estimate of $1.42 billion.

NYSE GDOT opened at $29.80 on Friday. The company’s fifty day simple moving average is $27.53 and its 200-day simple moving average is $31.40. Green Dot has a 52 week low of $23.09 and a 52 week high of $54.90. The stock has a market cap of $1.62 billion, a P/E ratio of 27.34 and a beta of 0.91.

Green Dot (NYSE:GDOT – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.21. The company had revenue of $400.60 million during the quarter, compared to the consensus estimate of $390.87 million. Green Dot had a net margin of 4.19% and a return on equity of 9.15%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, equities analysts forecast that Green Dot will post 1.58 earnings per share for the current fiscal year.

GDOT has been the subject of a number of recent analyst reports. Northland Securities decreased their target price on Green Dot from $42.00 to $38.00 in a research report on Wednesday, February 16th. William Blair restated an outperform rating on shares of Green Dot in a research note on Friday, February 25th. Zacks Investment Research upgraded Green Dot from a sell rating to a hold rating and set a $29.00 price objective for the company in a research note on Monday, May 2nd. Barclays lowered their target price on Green Dot from $55.00 to $35.00 and set an overweight rating for the company in a research note on Monday, February 28th. Finally, Needham & Company LLC lowered their target price on Green Dot from $63.00 to $35.00 and set a buy rating for the company in a research note on Friday, February 25th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $41.63.

In other Green Dot news, Director Glinda Bridgforth-Hodges sold 3,910 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $27.25, for a total transaction of $106,547.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 5,410 shares of company stock worth $146,443 in the last ninety days. Insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Green Dot by 0.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 44,502 shares of the financial services provider’s stock valued at $1,613,000 after purchasing an additional 336 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Green Dot by 24.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,221 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 437 shares during the period. State of Tennessee Treasury Department boosted its stake in Green Dot by 4.0% in the 4th quarter. State of Tennessee Treasury Department now owns 26,014 shares of the financial services provider’s stock valued at $943,000 after purchasing an additional 1,002 shares during the period. Citigroup Inc. boosted its stake in Green Dot by 2.4% in the 1st quarter. Citigroup Inc. now owns 57,892 shares of the financial services provider’s stock valued at $1,590,000 after purchasing an additional 1,351 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Green Dot by 2.1% in the 4th quarter. California State Teachers Retirement System now owns 70,528 shares of the financial services provider’s stock valued at $2,556,000 after purchasing an additional 1,434 shares during the period. Institutional investors own 92.02% of the company’s stock.

Green Dot Company Profile (Get Rating)

Green Dot Corporation operates as a financial technology and bank holding company in the United States. It operates through Consumer Services, Business to Business Services, and Money Movement Services segments. The company offers deposit account programs, such network-branded reloadable prepaid debit cards, network-branded gift cards, and secured credit cards.

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