William Blair Has Negative Outlook for Green Dot Q3 Earnings

Green Dot Co. (NYSE:GDOT) – Research analysts at William Blair lowered their Q3 2024 EPS estimates for shares of Green Dot in a report released 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.

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

Green Dot Price Performance

GDOT stock opened at $11.36 on Friday. The business has a 50 day simple moving average of $11.42 and a 200-day simple moving average of $10.20. Green Dot has a twelve month low of $7.30 and a twelve month high of $12.99.

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

Insider Activity at Green Dot

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in Green Dot by 11.8% during the third quarter. Principal Financial Group Inc. now owns 253,130 shares of the financial services provider’s stock worth $2,964,000 after acquiring an additional 26,676 shares during the last quarter. Amalgamated Bank increased its stake in shares of Green Dot by 14.0% during the 3rd quarter. Amalgamated Bank now owns 15,607 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 1,920 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Green Dot by 14.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 30,650 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 3,783 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Green Dot by 13.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 26,000 shares of the financial services provider’s stock valued at $304,000 after buying an additional 3,000 shares in the last quarter. Finally, Griffin Asset Management Inc. acquired a new stake in Green Dot during the 3rd quarter valued at $232,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

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.