JPMorgan Chase & Co. Has $384,000 Position in Green Dot Corporation $GDOT

JPMorgan Chase & Co. cut its holdings in shares of Green Dot Corporation (NYSE:GDOT) by 65.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,556 shares of the financial services provider’s stock after selling 53,880 shares during the quarter. JPMorgan Chase & Co.’s holdings in Green Dot were worth $384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Topline Capital Management LLC grew its holdings in Green Dot by 7.2% in the 2nd quarter. Topline Capital Management LLC now owns 4,965,286 shares of the financial services provider’s stock valued at $53,526,000 after buying an additional 331,817 shares in the last quarter. No Street GP LP grew its holdings in Green Dot by 150.0% in the 3rd quarter. No Street GP LP now owns 4,000,000 shares of the financial services provider’s stock valued at $53,720,000 after buying an additional 2,400,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Green Dot by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,780,104 shares of the financial services provider’s stock valued at $37,341,000 after buying an additional 179,653 shares in the last quarter. American Century Companies Inc. grew its holdings in Green Dot by 22.2% in the 3rd quarter. American Century Companies Inc. now owns 1,730,308 shares of the financial services provider’s stock valued at $23,238,000 after buying an additional 314,145 shares in the last quarter. Finally, Portolan Capital Management LLC grew its holdings in Green Dot by 15.3% in the 3rd quarter. Portolan Capital Management LLC now owns 1,615,280 shares of the financial services provider’s stock valued at $21,693,000 after buying an additional 214,152 shares in the last quarter. 92.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Green Dot in a report on Tuesday, March 17th. Wall Street Zen raised Green Dot from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Green Dot in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Green Dot currently has an average rating of “Reduce” and an average target price of $13.56.

Green Dot Stock Performance

NYSE:GDOT opened at $11.81 on Wednesday. The stock has a fifty day moving average price of $11.51 and a 200-day moving average price of $12.12. The company has a market cap of $656.28 million, a price-to-earnings ratio of -6.63 and a beta of 0.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.52 and a current ratio of 0.52. Green Dot Corporation has a fifty-two week low of $7.23 and a fifty-two week high of $15.41.

Green Dot (NYSE:GDOT) last released its earnings results on Monday, March 16th. The financial services provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The firm had revenue of $519.72 million during the quarter, compared to the consensus estimate of $508.09 million. Green Dot had a positive return on equity of 6.93% and a negative net margin of 4.75%. As a group, equities analysts anticipate that Green Dot Corporation will post 0.87 EPS for the current fiscal year.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company that provides prepaid debit cards, cash reload processing services and consumer banking products through its subsidiary, Green Dot Bank. The firm offers reloadable prepaid cards under its own brand and through partnerships with retailers, payments networks and banks. In addition to consumer-focused prepaid card accounts, Green Dot delivers payroll card services, government disbursement programs and B2B payment solutions that enable businesses to distribute funds digitally to end users.

Founded in 1999 by Steve Streit and headquartered in Austin, Texas, Green Dot began as a prepaid MasterCard provider sold through retail outlets.