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

Green Dot (NYSE:GDOTGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. 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 brokerages have commented on GDOT. Barclays dropped their price target on Green Dot from $55.00 to $35.00 and set an overweight rating on the stock in a research report on Monday, February 28th. StockNews.com assumed coverage on shares of Green Dot in a research report on Thursday, March 31st. They set a hold rating on the stock. Needham & Company LLC reduced their price target on shares of Green Dot from $63.00 to $35.00 and set a buy rating for the company in a report on Friday, February 25th. Northland Securities dropped their price objective on shares of Green Dot from $42.00 to $38.00 in a report on Wednesday, February 16th. Finally, Zacks Investment Research upgraded shares of Green Dot from a sell rating to a hold rating and set a $29.00 target price for the company in a research note on Monday, May 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $41.63.

NYSE:GDOT opened at $28.75 on Thursday. The company has a 50-day moving average of $27.26 and a 200-day moving average of $32.22. Green Dot has a 52 week low of $23.09 and a 52 week high of $54.90. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 26.38 and a beta of 0.91.

Green Dot (NYSE:GDOTGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. The firm had revenue of $400.60 million during the quarter, compared to analysts’ expectations of $390.87 million. Green Dot had a net margin of 4.19% and a return on equity of 9.15%. During the same quarter last year, the company earned $0.60 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Green Dot will post 1.58 earnings per share for the current fiscal year.

In related news, Director Glinda Bridgforth-Hodges sold 3,910 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $27.25, for a total transaction of $106,547.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 5,410 shares of company stock worth $146,443. 2.90% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of 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 worth $80,000 after acquiring an additional 437 shares in the last quarter. Janus Henderson Group PLC bought a new position in Green Dot in the 3rd quarter valued at $247,000. Quantbot Technologies LP boosted its stake in Green Dot by 42.4% in the first quarter. Quantbot Technologies LP now owns 17,399 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 5,182 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Green Dot during the 1st quarter worth about $500,000. Finally, State of Tennessee Treasury Department raised its stake in shares of Green Dot by 4.0% in the fourth quarter. State of Tennessee Treasury Department now owns 26,014 shares of the financial services provider’s stock worth $943,000 after acquiring an additional 1,002 shares during the last quarter. Institutional investors own 92.02% 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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Earnings History and Estimates for Green Dot (NYSE:GDOT)

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