Federated Hermes Inc. Acquires 7,532 Shares of Green Dot Co. (NYSE:GDOT)

Federated Hermes Inc. lifted its holdings in shares of Green Dot Co. (NYSE:GDOT) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,669 shares of the financial services provider’s stock after purchasing an additional 7,532 shares during the quarter. Federated Hermes Inc. owned approximately 0.23% of Green Dot worth $1,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kent Lake Capital LLC acquired a new stake in shares of Green Dot in the first quarter worth about $7,464,000. Charles Schwab Investment Management Inc. lifted its position in shares of Green Dot by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 749,075 shares of the financial services provider’s stock worth $7,416,000 after buying an additional 81,846 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Green Dot by 17.7% in the second quarter. Bank of New York Mellon Corp now owns 544,166 shares of the financial services provider’s stock worth $5,142,000 after buying an additional 82,022 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of Green Dot in the first quarter worth about $4,254,000. Finally, Hsbc Holdings PLC lifted its position in shares of Green Dot by 33.3% in the fourth quarter. Hsbc Holdings PLC now owns 340,073 shares of the financial services provider’s stock worth $3,408,000 after buying an additional 84,894 shares during the last quarter. Institutional investors own 92.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $11.00 price target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.75.

Green Dot Stock Performance

Green Dot stock opened at $12.20 on Friday. The business’s 50-day simple moving average is $10.49 and its 200-day simple moving average is $9.68. The firm has a market capitalization of $649.16 million, a PE ratio of -25.96 and a beta of 0.91. Green Dot Co. has a 52 week low of $7.30 and a 52 week high of $14.10.

Green Dot (NYSE:GDOT) last posted its quarterly earnings data 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 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 firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. Research analysts forecast that Green Dot Co. will post 1 earnings per share for the current year.

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.