Benzinga  Sep 19  Comment 
In a report published Friday, Sterne Agee analyst Thomas C. McCrohan reiterated a Neutral rating and $17.00 price target on Green Dot Corporation (NYSE: GDOT). In the report, Sterne Agee noted, “Todays announced acquisition of TPG was made, in...
TheStreet.com  Sep 18  Comment 
NEW YORK (TheStreet) -- Shares of Green Dot Corp. are higher by 3.30% to $19.57 in mid-afternoon trading on Thursday, after the company announced its plan to acquire the privately held Santa Barbara Tax Products Group for approximately $320...
Benzinga  Sep 18  Comment 
Green Dot Corporation (NYSE: GDOT) cut its 2015 earnings outlook by nearly nine percent and announced the $320 million acquisition of the tax refund service provider Santa Barbara Tax Products Group. Green Dot traded recently at $19.62 per...
StreetInsider.com  Sep 18  Comment 
* Green Dot (NYSE: GDOT) announced that it has entered into a definitive agreement to acquire Santa Barbara Tax Products Group (“TPG”) for approximately $320 million in cash and stock plus potential additional contingent consideration. Green...
Reuters  Sep 18  Comment 
Debit card provider Green Dot Corp said it was lowering its full-year profit outlook due to increased operating costs related to its acquisition of Santa Barbara Tax Products...
Benzinga  Sep 18  Comment 
Green Dot to Acquire Santa Barbara Tax Products Group for About $320M in Cash, Stock http://www.benzinga.com/pressreleases/14/09/b4858871/green-dot-to-acquir... © 2014 Benzinga.com. Benzinga does not provide investment advice. All...
StreetInsider.com  Sep 18  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Green+Dot+%28GDOT%29+to+Acquire+Santa+Barbara+TPG+in+%24320M+Deal/9842774.html for the full story.
New York Times  Sep 17  Comment 
Even prominent lawyers and theology professors find themselves pulled into a popular fraud that uses prepaid Green Dot MoneyPak debit cards to prey on the vulnerable.
TheStreet.com  Aug 1  Comment 
NEW YORK (TheStreet) -- Green Dot was gaining 9.2% to $19.64 Friday after beating analysts' estimates for earnings for the second quarter. The company reported earnings of 41 cents a share, beating the Capital IQ Consensus Estimate of 25 cents...
Benzinga  Aug 1  Comment 
Following Thursday's second quarter earnings release, shares of Green Dot (NYSE: GDOT) have rallied 10 percent Friday. In response to the company's results and guidance, a number of analyst firms have issued notes detailing their opinion of...


Green Dot (GDOT) (NYSE: GDOT) sells prepaid debit cards through third party retailers such as Wal-Mart (WMT). The company provides the retailer with a commission of the sale of the debit cards in return for selling them. The cards are rechargeable and can be used anywhere that a Mastercard (MA) or Visa (V) is accepted. These cards have been used as a replacement for credit cards but without any fear of penalty fees, overdraft fees, or minimum balances.[1]

The company's initial public offering of stock filed on the NYSE and went public on 21 July 2010. It was priced at $36, above the initial price range of $32-$35. The major underwriters were J P Morgan Chase (JPM) and Morgan Stanley (MS). The company raised $164M by selling 4.56M shares [2]

Green Dot purposely kept the IPO small at under 4.6M shares because it did not need to raise money. The company had $102M in cash and does not have any debt on its books. The company did not want to dilute its shares, but instead wanted to gain liquidity for some of its prominent owners. This made the Green Dot shares relatively high in demand since fewer shares were sold than were in demand. The company issued 2.2M shares or 5.5% to Wal-Mart (WMT).[3]

The company's 2009 revenue was $234.8M which was a 40% increase from the $168.1M revenue from 2008. Net Income also rose by 118% in 2009 from $29.2M in 2008 to $63.7M. In 2009, a total of $4.7B was loaded onto Green Dot's debit cards, a 66% increase from 2008. This has made the company one of the leading providers of reloadable debit cards.[4]

I'm quite pleased with the inofmration in this one. TY!

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