Bank of New York Mellon Corp Decreases Stock Holdings in Green Dot Corporation (NYSE:GDOT)

Bank of New York Mellon Corp trimmed its holdings in shares of Green Dot Corporation (NYSE:GDOT - Free Report) by 57.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 176,789 shares of the financial services provider's stock after selling 237,075 shares during the period. Bank of New York Mellon Corp owned approximately 0.33% of Green Dot worth $1,492,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Green Dot during the fourth quarter valued at $44,000. GAMMA Investing LLC raised its holdings in Green Dot by 152.0% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the financial services provider's stock worth $48,000 after purchasing an additional 3,416 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Green Dot during the 4th quarter valued at about $84,000. Caxton Associates LP bought a new position in shares of Green Dot in the fourth quarter worth approximately $121,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Green Dot during the first quarter valued at about $96,000. 92.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Green Dot

In other Green Dot news, insider Christian Devin Ruppel sold 10,189 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $11.00, for a total transaction of $112,079.00. Following the transaction, the insider directly owned 253,139 shares in the company, valued at $2,784,529. This represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Green Dot from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Keefe, Bruyette & Woods lifted their price target on shares of Green Dot from $11.00 to $12.00 and gave the stock a "market perform" rating in a research note on Friday, July 11th. Northland Capmk upgraded Green Dot from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 9th. Barclays increased their price target on Green Dot from $7.00 to $10.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. Finally, Northland Securities upgraded Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 price objective for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Green Dot has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Green Dot Trading Down 2.7%

Shares of NYSE:GDOT traded down $0.27 during trading on Friday, reaching $9.85. 951,702 shares of the company were exchanged, compared to its average volume of 839,282. The business's fifty day simple moving average is $10.23 and its 200-day simple moving average is $9.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.58 and a quick ratio of 0.58. Green Dot Corporation has a 12-month low of $6.12 and a 12-month high of $13.58. The firm has a market capitalization of $540.68 million, a PE ratio of -75.76 and a beta of 0.76.

Green Dot (NYSE:GDOT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $0.70 by $0.36. Green Dot had a positive return on equity of 8.82% and a negative net margin of 0.31%. The company had revenue of $555.96 million for the quarter, compared to the consensus estimate of $503.20 million. During the same period last year, the business posted $0.59 EPS. Green Dot's quarterly revenue was up 23.6% on a year-over-year basis. On average, research 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.