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

Green Dot (NYSE:GDOTGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $2.32-$2.46 for the period, compared to the consensus earnings per share 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.

Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Green Dot from a sell rating to a hold rating and set a $29.00 price target on the stock in a research note on Monday, May 2nd. Northland Securities decreased their price objective on Green Dot from $42.00 to $38.00 in a report on Wednesday, February 16th. William Blair reissued an outperform rating on shares of Green Dot in a report on Friday, February 25th. Barclays decreased their price objective on Green Dot from $55.00 to $35.00 and set an overweight rating for the company in a report on Monday, February 28th. Finally, StockNews.com started coverage on Green Dot in a report on Thursday, March 31st. They issued a hold rating for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Green Dot currently has a consensus rating of Hold and a consensus target price of $41.63.

Shares of NYSE GDOT opened at $24.79 on Thursday. The stock has a fifty day moving average price of $27.00 and a 200 day moving average price of $32.77. Green Dot has a 1-year low of $23.09 and a 1-year high of $54.90. The company has a market cap of $1.36 billion, a PE ratio of 22.74 and a beta of 0.91.

Green Dot (NYSE:GDOTGet Rating) last released its earnings results on Thursday, May 5th. The financial services provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.21. Green Dot had a return on equity of 8.96% and a net margin of 4.19%. The company had revenue of $400.60 million during the quarter, compared to the consensus estimate of $390.87 million. During the same quarter last year, the company earned $0.60 earnings per share. Green Dot’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts expect that Green Dot will post 1.44 EPS for the current year.

In other news, Director Glinda Bridgforth-Hodges sold 3,910 shares of the firm’s stock in a transaction on 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 accessible through this link. In the last three months, insiders sold 5,410 shares of company stock valued at $149,223. 2.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in Green Dot by 7.9% during the fourth quarter. State Street Corp now owns 2,036,962 shares of the financial services provider’s stock worth $73,820,000 after buying an additional 148,461 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Green Dot by 12.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,371,139 shares of the financial services provider’s stock worth $49,690,000 after acquiring an additional 155,256 shares during the period. Morgan Stanley boosted its position in shares of Green Dot by 13.6% in the second quarter. Morgan Stanley now owns 376,357 shares of the financial services provider’s stock worth $17,632,000 after acquiring an additional 45,084 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Green Dot by 14.2% in the fourth quarter. Deutsche Bank AG now owns 242,262 shares of the financial services provider’s stock worth $8,781,000 after acquiring an additional 30,045 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Green Dot by 4.0% during the fourth quarter. Legal & General Group Plc now owns 163,315 shares of the financial services provider’s stock worth $5,919,000 after purchasing an additional 6,275 shares during the last quarter. Institutional investors and hedge funds 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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Earnings History and Estimates for Green Dot (NYSE:GDOT)

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