Texas Permanent School Fund Corp Increases Stock Holdings in Green Dot Co. (NYSE:GDOT)

Texas Permanent School Fund Corp grew its stake in Green Dot Co. (NYSE:GDOT) by 25.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 48,792 shares of the financial services provider’s stock after buying an additional 9,829 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Green Dot were worth $461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in 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 shares of Green Dot in the 1st quarter valued at about $4,254,000. BNP Paribas Financial Markets boosted its stake in shares of Green Dot by 428.0% in the 4th quarter. BNP Paribas Financial Markets now owns 111,524 shares of the financial services provider’s stock valued at $1,104,000 after buying an additional 90,402 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Green Dot by 33.3% in the 4th quarter. Hsbc Holdings PLC now owns 340,073 shares of the financial services provider’s stock valued at $3,408,000 after buying an additional 84,894 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake 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 during the period. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $11.00 target price on shares of Green Dot in a research report on Monday, July 22nd. One research 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 an average rating of “Hold” and a consensus price target of $10.75.

Green Dot Stock Performance

Shares of NYSE GDOT opened at $12.20 on Friday. Green Dot Co. has a fifty-two week low of $7.30 and a fifty-two week high of $14.10. The firm has a market capitalization of $649.16 million, a PE ratio of -25.96 and a beta of 0.91. The stock’s 50-day simple moving average is $10.49 and its 200-day simple moving average is $9.68.

Green Dot (NYSE:GDOT) last issued its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $407.10 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. On average, sell-side analysts forecast that Green Dot Co. will post 1 earnings per share for the current fiscal year.

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.