Research Analysts Issue Forecasts for Green Dot Q3 Earnings

Green Dot Co. (NYSE:GDOT) – Stock analysts at William Blair dropped their Q3 2024 earnings 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 per share of $0.06 for the quarter, down from their prior forecast 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.

Green Dot (NYSE:GDOT) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.25 EPS for the quarter, beating 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 firm had revenue of $407.10 million during the quarter, compared to analysts’ expectations of $381.87 million. During the same quarter last year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year.

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

Green Dot Stock Down 0.8 %

Shares of Green Dot stock opened at $11.27 on Friday. The stock has a market capitalization of $605.04 million, a price-to-earnings ratio of -11.25 and a beta of 0.92. Green Dot has a twelve month low of $7.30 and a twelve month high of $12.99. The company has a 50-day simple moving average of $11.44 and a two-hundred day simple moving average of $10.21.

Insider Activity

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

Hedge Funds Weigh In On Green Dot

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its position in Green Dot by 162.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,609 shares during the last quarter. nVerses Capital LLC bought a new position in Green Dot during the second quarter valued at about $25,000. Headlands Technologies LLC increased its holdings in Green Dot by 89.2% during the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,293 shares during the last quarter. Quarry LP bought a new stake in Green Dot in the second quarter worth about $32,000. Finally, Torno Capital LLC bought a new position in shares of Green Dot during the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 92.56% 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.