Federated Hermes Inc. Has $1.18 Million Position in Green Dot Co. (NYSE:GDOT)

Federated Hermes Inc. boosted its holdings in Green Dot Co. (NYSE:GDOT) by 6.4% during the second quarter, HoldingsChannel.com reports. The fund owned 124,669 shares of the financial services provider’s stock after purchasing an additional 7,532 shares during the period. Federated Hermes Inc.’s holdings in Green Dot were worth $1,178,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GDOT. American Century Companies Inc. grew its stake in shares of 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 purchasing an additional 142,377 shares during the period. Headlands Technologies LLC raised its holdings in shares of Green Dot by 44.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,957 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,214 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Green Dot by 25.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 48,792 shares of the financial services provider’s stock worth $461,000 after buying an additional 9,829 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Green Dot in the 2nd quarter worth approximately $685,000. Finally, Rhumbline Advisers raised its holdings in shares of Green Dot by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 158,748 shares of the financial services provider’s stock worth $1,500,000 after buying an additional 8,392 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Green Dot Stock Down 2.3 %

Green Dot stock opened at $12.20 on Friday. Green Dot Co. has a 12-month low of $7.30 and a 12-month high of $14.10. The stock has a 50-day simple moving average of $10.49 and a 200 day simple moving average of $9.68. The stock has a market capitalization of $649.16 million, a price-to-earnings ratio of -25.96 and a beta of 0.91.

Green Dot (NYSE:GDOT) last announced its 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. The company had revenue of $407.10 million for the quarter, compared to analyst estimates of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. Green Dot’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts anticipate that Green Dot Co. will post 1 EPS for the current 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.