William Blair Has Bearish Estimate for Green Dot Q3 Earnings

Green Dot Co. (NYSE:GDOT - Free Report) - Analysts at William Blair lowered their Q3 2024 earnings estimates for shares of Green Dot in a research report issued to clients and investors on Wednesday, October 30th. William Blair analyst C. Kennedy now anticipates that the financial services provider will earn $0.06 per share for the quarter, down from their previous 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 - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $407.10 million during the quarter, compared to analysts' expectations of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share.

Several other research firms have also commented on GDOT. Craig Hallum lifted their price target on Green Dot from $10.00 to $11.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $11.00 price target on shares of Green Dot in a research note on Monday, July 22nd. Finally, Barclays lifted their price target on shares of Green Dot from $7.00 to $10.00 and gave the company an "underweight" rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $10.75.

Green Dot Price Performance

Green Dot stock traded down $0.06 during trading on Friday, reaching $11.30. 214,105 shares of the company were exchanged, compared to its average volume of 543,292. The stock's 50 day simple moving average is $11.44 and its two-hundred day simple moving average is $10.21. The company has a market capitalization of $606.92 million, a P/E ratio of -11.25 and a beta of 0.92. Green Dot has a 52-week low of $7.30 and a 52-week high of $12.99.

Institutional Investors Weigh In On Green Dot

A number of hedge funds have recently bought and sold shares of GDOT. Kent Lake Capital LLC purchased a new position in shares of Green Dot in the 1st quarter valued at about $7,464,000. SG Capital Management LLC purchased a new position in Green Dot in the first quarter valued at approximately $4,254,000. American Century Companies Inc. raised its holdings in Green Dot by 79.0% during the second quarter. American Century Companies Inc. now owns 322,692 shares of the financial services provider's stock worth $3,049,000 after purchasing an additional 142,377 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its position in shares of Green Dot by 24.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 525,377 shares of the financial services provider's stock worth $4,965,000 after buying an additional 104,829 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Green Dot by 17.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider's stock valued at $5,142,000 after buying an additional 82,022 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company's stock.

Insider Buying and Selling at Green Dot

In other news, insider Topline Capital Management, Ll bought 36,671 shares of the business's stock in a transaction on Monday, September 23rd. The shares were bought at an average price of $12.49 per share, with a total value of $458,020.79. Following the completion of the transaction, the insider now directly owns 5,995,422 shares in the company, valued at $74,882,820.78. This trade 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 available at this hyperlink. In other Green Dot news, insider Topline Capital Management, Ll purchased 36,671 shares of the business's stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of $12.49 per share, for a total transaction of $458,020.79. Following the completion of the purchase, the insider now directly owns 5,995,422 shares of the company's stock, valued at approximately $74,882,820.78. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Topline Capital Partners, Lp acquired 162,243 shares of the stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of $11.87 per share, with a total value of $1,925,824.41. Following the purchase, the insider now 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 disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

Green Dot Company Profile

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.