Bank of New York Mellon Corp Has $4.40 Million Stake in Green Dot Co. (NYSE:GDOT)

Bank of New York Mellon Corp trimmed its stake in Green Dot Co. (NYSE:GDOT) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 413,864 shares of the financial services provider’s stock after selling 93,206 shares during the period. Bank of New York Mellon Corp owned about 0.77% of Green Dot worth $4,404,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Green Dot by 5.6% in the third quarter. State Street Corp now owns 2,520,389 shares of the financial services provider’s stock valued at $29,514,000 after buying an additional 133,200 shares during the last quarter. Geode Capital Management LLC increased its position in Green Dot by 9.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,996 shares of the financial services provider’s stock valued at $14,324,000 after acquiring an additional 101,008 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Green Dot by 31.0% in the third quarter. JPMorgan Chase & Co. now owns 331,802 shares of the financial services provider’s stock worth $3,885,000 after acquiring an additional 78,547 shares during the last quarter. Barclays PLC raised its position in Green Dot by 342.0% in the 3rd quarter. Barclays PLC now owns 88,504 shares of the financial services provider’s stock worth $1,036,000 after purchasing an additional 68,481 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Green Dot by 11.8% in the 3rd quarter. Principal Financial Group Inc. now owns 253,130 shares of the financial services provider’s stock valued at $2,964,000 after buying an additional 26,676 shares during the period. 92.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Topline Capital Partners, Lp sold 331,339 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.54, for a total value of $3,492,313.06. Following the transaction, the insider now owns 5,376,787 shares of the company’s stock, valued at approximately $56,671,334.98. This represents a 5.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Topline Capital Management, Ll sold 380,611 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $10.44, for a total value of $3,973,578.84. Following the completion of the transaction, the insider now directly owns 5,708,126 shares in the company, valued at approximately $59,592,835.44. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,180 shares of company stock valued at $10,071,696. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GDOT. Keefe, Bruyette & Woods cut their price target on Green Dot from $12.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, February 28th. Barclays lowered their target price on shares of Green Dot from $10.00 to $7.00 and set an “underweight” rating for the company in a report on Monday, March 3rd. Finally, Craig Hallum raised Green Dot from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, March 14th.

Green Dot Price Performance

Shares of GDOT opened at $7.28 on Wednesday. The company has a 50 day moving average of $8.48 and a 200-day moving average of $10.17. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $394.90 million, a P/E ratio of -6.94 and a beta of 1.06. Green Dot Co. has a twelve month low of $6.12 and a twelve month high of $13.58.

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.