Green Dot Corporation (NYSE:GDOT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Green Dot Corporation (NYSE:GDOT) by 57.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 176,789 shares of the financial services provider’s stock after selling 237,075 shares during the quarter. Bank of New York Mellon Corp’s holdings in Green Dot were worth $1,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GDOT. American Century Companies Inc. increased its stake in shares of Green Dot by 42.5% in the 4th quarter. American Century Companies Inc. now owns 1,041,034 shares of the financial services provider’s stock worth $11,077,000 after acquiring an additional 310,492 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Green Dot in the 4th quarter worth $217,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Green Dot in the 4th quarter worth $84,000. Vanguard Group Inc. increased its stake in shares of Green Dot by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 3,584,651 shares of the financial services provider’s stock worth $38,141,000 after acquiring an additional 71,534 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Green Dot by 25.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,513 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 3,339 shares during the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Green Dot news, insider Christian Devin Ruppel sold 10,189 shares of Green Dot stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $11.00, for a total value of $112,079.00. Following the completion of the transaction, the insider directly owned 253,139 shares of the company’s stock, valued at $2,784,529. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GDOT has been the subject of a number of recent analyst reports. Barclays raised their price objective on Green Dot from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Monday, May 12th. Northland Securities raised Green Dot from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Wednesday, April 9th. Wall Street Zen raised Green Dot from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Northland Capmk raised Green Dot from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Green Dot from $11.00 to $12.00 and gave the stock a “market perform” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Green Dot Stock Performance

NYSE GDOT opened at $10.13 on Thursday. The company has a market cap of $556.04 million, a P/E ratio of -77.92 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a 50-day moving average of $10.19 and a two-hundred day moving average of $8.99. Green Dot Corporation has a 1-year low of $6.12 and a 1-year high of $13.58.

Green Dot (NYSE:GDOT) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.36. The company had revenue of $555.96 million during the quarter, compared to the consensus estimate of $503.20 million. Green Dot had a positive return on equity of 8.82% and a negative net margin of 0.31%. Green Dot’s revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. As a group, analysts anticipate that Green Dot Corporation will post 0.87 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.