Bank of New York Mellon Corp Purchases 82,022 Shares of Green Dot Co. (NYSE:GDOT)

Bank of New York Mellon Corp increased its position in shares of Green Dot Co. (NYSE:GDOT) by 17.7% during the 2nd quarter, Holdings Channel reports. The fund owned 544,166 shares of the financial services provider’s stock after buying an additional 82,022 shares during the quarter. Bank of New York Mellon Corp’s holdings in Green Dot were worth $5,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in Green Dot by 162.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,602 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,609 shares in the last quarter. Headlands Technologies LLC lifted its stake in Green Dot by 89.2% in the first quarter. Headlands Technologies LLC now owns 2,743 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,293 shares in the last quarter. UMB Bank n.a. lifted its stake in Green Dot by 98.3% in the first quarter. UMB Bank n.a. now owns 2,855 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,415 shares in the last quarter. CWM LLC lifted its stake in Green Dot by 39.2% in the second quarter. CWM LLC now owns 6,006 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,691 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in Green Dot in the first quarter valued at approximately $116,000. Institutional investors own 92.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $11.00 price objective on shares of Green Dot in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.75.

Green Dot Stock Up 3.6 %

Shares of GDOT stock opened at $11.52 on Friday. The company’s fifty day simple moving average is $10.16 and its 200-day simple moving average is $9.51. The firm has a market cap of $618.47 million, a PE ratio of -24.51 and a beta of 0.91. Green Dot Co. has a 12 month low of $7.30 and a 12 month high of $14.83.

Green Dot (NYSE:GDOT) last issued its earnings results on Thursday, August 8th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $407.10 million for the quarter, compared to the consensus estimate of $381.87 million. Green Dot had a negative net margin of 3.41% and a positive return on equity of 4.01%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share. On average, equities analysts predict that Green Dot Co. will post 1 earnings per share for the current fiscal year.

Green Dot Company Profile

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.