William Blair Estimates Green Dot’s Q3 Earnings (NYSE:GDOT)

Green Dot Co. (NYSE:GDOT) – William Blair reduced their Q3 2024 earnings per share estimates for Green Dot in a research note issued on Wednesday, October 30th. William Blair analyst C. Kennedy now expects that the financial services provider will post earnings of $0.06 per share for the quarter, down from their prior estimate of $0.07. The consensus estimate for Green Dot’s current full-year earnings is $1.00 per share. William Blair also issued estimates for Green Dot’s Q4 2024 earnings at $0.35 EPS.

Several other analysts have also issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $11.00 price objective on shares of Green Dot in a report on Monday, July 22nd. Craig Hallum raised their price target on Green Dot from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Finally, Barclays boosted their price target on Green Dot from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.75.

Green Dot Stock Down 0.8 %

GDOT stock opened at $11.27 on Friday. The company has a 50 day moving average of $11.44 and a two-hundred day moving average of $10.23. Green Dot has a 12-month low of $7.30 and a 12-month high of $12.99. The company has a market cap of $605.31 million, a price-to-earnings ratio of -11.04 and a beta of 0.92.

Green Dot (NYSE:GDOT) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The business had revenue of $407.10 million during the quarter, compared to analyst estimates of $381.87 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year.

Hedge Funds Weigh In On Green Dot

A number of institutional investors have recently made changes to their positions in the business. Kent Lake Capital LLC bought a new stake in Green Dot in the 1st quarter valued at $7,464,000. Bank of New York Mellon Corp grew its position in Green Dot by 17.7% during the second quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider’s stock worth $5,142,000 after buying an additional 82,022 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Green Dot by 24.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider’s stock valued at $4,965,000 after acquiring an additional 104,829 shares during the period. SG Capital Management LLC acquired a new position in Green Dot in the 1st quarter valued at approximately $4,254,000. Finally, American Century Companies Inc. raised its holdings in Green Dot by 79.0% in the 2nd quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider’s stock valued at $3,049,000 after acquiring an additional 142,377 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Topline Capital Management, Ll purchased 36,671 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $12.49 per share, for a total transaction of $458,020.79. Following the purchase, the insider now owns 5,995,422 shares in the company, valued at $74,882,820.78. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Topline Capital Management, Ll acquired 36,671 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average cost of $12.49 per share, with a total value of $458,020.79. Following the acquisition, the insider now owns 5,995,422 shares in the company, valued at approximately $74,882,820.78. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Topline Capital Partners, Lp bought 162,243 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average price of $11.87 per share, for a total transaction of $1,925,824.41. Following the completion of the purchase, the insider now directly owns 6,157,665 shares in the company, valued at $73,091,483.55. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

About Green Dot

Green Dot Corporation, a financial technology and registered bank holding company, provides various financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services. The company provides deposit account programs, including consumer and small business checking account products, network-branded reloadable prepaid debit cards and gift cards, and secured credit programs.