Bank of New York Mellon Corp decreased its stake in shares of Green Dot Corporation (NYSE:GDOT) by 19.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,952,044 shares of the financial services provider’s stock after selling 469,825 shares during the period. Bank of New York Mellon Corp owned about 3.92% of Green Dot Corporation worth $75,212,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GDOT. BlackRock Inc. increased its stake in shares of Green Dot Corporation by 53,389.4% in the first quarter. BlackRock Inc. now owns 5,309,357 shares of the financial services provider’s stock valued at $177,121,000 after buying an additional 5,299,431 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Green Dot Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 4,091,807 shares of the financial services provider’s stock valued at $136,503,000 after buying an additional 412,984 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Green Dot Corporation by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,753,768 shares of the financial services provider’s stock valued at $91,865,000 after buying an additional 19,113 shares during the last quarter. State Street Corp increased its stake in shares of Green Dot Corporation by 7.1% in the first quarter. State Street Corp now owns 999,048 shares of the financial services provider’s stock valued at $33,324,000 after buying an additional 65,849 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Green Dot Corporation by 91.0% in the second quarter. Russell Investments Group Ltd. now owns 726,097 shares of the financial services provider’s stock valued at $27,975,000 after buying an additional 346,014 shares during the last quarter. 77.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Green Dot Corporation (GDOT) opened at 47.79 on Tuesday. The company has a market cap of $2.41 billion, a P/E ratio of 40.64 and a beta of 1.06. The stock has a 50 day moving average price of $42.30 and a 200-day moving average price of $36.11. Green Dot Corporation has a 1-year low of $21.45 and a 1-year high of $48.27.

Green Dot Corporation (NYSE:GDOT) last released its earnings results on Tuesday, August 8th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.16. The business had revenue of $222.50 million for the quarter, compared to analyst estimates of $208.59 million. Green Dot Corporation had a net margin of 7.66% and a return on equity of 12.13%. Green Dot Corporation’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. Analysts predict that Green Dot Corporation will post $2.05 earnings per share for the current fiscal year.

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Several analysts have weighed in on GDOT shares. Zacks Investment Research raised Green Dot Corporation from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research note on Monday, August 14th. BidaskClub raised Green Dot Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 target price on shares of Green Dot Corporation in a research note on Monday, May 22nd. Citigroup Inc. reaffirmed a “buy” rating and set a $46.00 target price (up previously from $40.00) on shares of Green Dot Corporation in a research note on Monday, July 24th. Finally, Deutsche Bank AG boosted their price objective on Green Dot Corporation from $37.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.33.

In related news, CFO Mark L. Shifke sold 5,000 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $39.69, for a total value of $198,450.00. Following the transaction, the chief financial officer now owns 773,157 shares in the company, valued at $30,686,601.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel John C. Ricci sold 20,707 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $47.21, for a total transaction of $977,577.47. Following the completion of the transaction, the general counsel now owns 91,163 shares in the company, valued at approximately $4,303,805.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,181 shares of company stock worth $4,491,969. 11.00% of the stock is owned by company insiders.

Green Dot Corporation Company Profile

Green Dot Corporation (Green Dot) is a pro-consumer financial technology innovator. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company operates through two segments: Account Services, and Processing and Settlement Services.

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Institutional Ownership by Quarter for Green Dot Corporation (NYSE:GDOT)

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