Jefferies Financial Group Comments on Green Dot Co.’s Q2 2022 Earnings (NYSE:GDOT)

Green Dot Co. (NYSE:GDOT – Get Rating) – Jefferies Financial Group raised their Q2 2022 EPS estimates for Green Dot in a report issued on Tuesday, April 19th. Jefferies Financial Group analyst J. Hecht now expects that the financial services provider will post earnings per share of $0.43 for the quarter, up from their prior estimate of $0.24. Jefferies Financial Group also issued estimates for Green Dot’s Q1 2023 earnings at $0.82 EPS, Q3 2023 earnings at $0.37 EPS and FY2023 earnings at $2.10 EPS.

Green Dot (NYSE:GDOT – Get Rating) last posted its earnings results on Thursday, February 24th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.08). The business had revenue of $330.84 million for the quarter, compared to analyst estimates of $309.35 million. Green Dot had a return on equity of 7.79% and a net margin of 3.31%. Green Dot’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS.

Several other equities research analysts have also recently issued reports on GDOT. William Blair reissued an “outperform” rating on shares of Green Dot in a research note on Friday, February 25th. Northland Securities dropped their price objective on Green Dot from $42.00 to $38.00 in a research note on Wednesday, February 16th. BTIG Research decreased their target price on Green Dot from $72.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, January 26th. StockNews.com began coverage on Green Dot in a report on Thursday, March 31st. They set a “hold” rating for the company. 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 report on Friday, February 25th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.22.

GDOT stock opened at $28.46 on Thursday. The business has a fifty day moving average of $28.12 and a two-hundred day moving average of $34.69. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 33.48 and a beta of 0.95. Green Dot has a 52-week low of $23.09 and a 52-week high of $54.90.

Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Green Dot by 132.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,560 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 890 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of Green Dot by 43.0% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,430 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 430 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Green Dot by 24.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,221 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 437 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Green Dot during the 4th quarter worth about $139,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Green Dot by 61.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,113 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 1,184 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Glinda Bridgforth-Hodges sold 3,910 shares of Green Dot stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $27.25, for a total value of $106,547.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 5,410 shares of company stock valued at $149,223 in the last quarter. Company insiders own 3.40% of the company’s stock.

About Green Dot (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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