Bank of New York Mellon Corp Sells 237,075 Shares of Green Dot Corporation (NYSE:GDOT)

Bank of New York Mellon Corp trimmed its position in Green Dot Corporation (NYSE:GDOT - Free Report) by 57.3% in the first quarter, according to its most recent Form 13F filing with the Securities and 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 owned about 0.33% of Green Dot worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GDOT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Green Dot by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,460 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 1,292 shares in the last quarter. Connors Investor Services Inc. lifted its stake in Green Dot by 0.9% during the fourth quarter. Connors Investor Services Inc. now owns 275,001 shares of the financial services provider's stock worth $2,926,000 after purchasing an additional 2,516 shares during the period. Graham Capital Management L.P. lifted its stake in Green Dot by 25.0% during the fourth quarter. Graham Capital Management L.P. now owns 14,079 shares of the financial services provider's stock worth $150,000 after purchasing an additional 2,818 shares during the period. BNP Paribas Financial Markets boosted its holdings in Green Dot by 2.0% during the fourth quarter. BNP Paribas Financial Markets now owns 151,142 shares of the financial services provider's stock valued at $1,608,000 after purchasing an additional 3,035 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Green Dot by 25.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,513 shares of the financial services provider's stock valued at $164,000 after purchasing an additional 3,339 shares during the period. 92.56% of the stock is owned by institutional investors.

Green Dot Price Performance

Shares of GDOT stock traded down $0.27 during trading hours on Friday, hitting $9.85. 951,702 shares of the company's stock were exchanged, compared to its average volume of 651,146. Green Dot Corporation has a 52 week low of $6.12 and a 52 week high of $13.58. The stock has a market cap of $540.67 million, a price-to-earnings ratio of -75.76 and a beta of 0.75. 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's 50-day moving average is $10.25 and its 200-day moving average is $9.01.

Green Dot (NYSE:GDOT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.36. Green Dot had a negative net margin of 0.31% and a positive return on equity of 8.82%. The business had revenue of $555.96 million for the quarter, compared to the consensus estimate of $503.20 million. During the same quarter in the prior year, the company earned $0.59 EPS. The firm's quarterly revenue was up 23.6% on a year-over-year basis. As a group, research analysts forecast that Green Dot Corporation will post 0.87 EPS for the current year.

Insider Buying and Selling at Green Dot

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

Analyst Ratings Changes

GDOT has been the subject of several analyst reports. Barclays raised their target price 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 Capmk raised Green Dot from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 9th. Northland Securities raised shares of Green Dot from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a report on Wednesday, April 9th. Wall Street Zen upgraded shares of Green Dot from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Green Dot from $11.00 to $12.00 and gave the company a "market perform" rating in a research report on Friday, July 11th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.00.

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.