QUOTE AND NEWS
Benzinga  4 hrs ago  Comment 
In a report published Wednesday, Deutsche Bank analyst Ashish Sabadra reiterated a Hold rating and $21.00 price target on Green Dot Corporation (NYSE: GDOT). In the report, Deutsche Bank noted, “On its earnings call today after the close, TSS...
Benzinga  Oct 23  Comment 
Green Dot Corporation (NYSE: GDOT) announced today that it has completed the previously announced acquisition of Santa Barbara Tax Products Group (“TPG”). “We believe this transaction will provide meaningful earnings diversification and...
DailyFinance  Oct 9  Comment 
Filed under: Credit, Consumer Ally, Credit Cards, Consumer Protection, Ripoffs & Scams, Internet Fraud Alamy Prepaid cards that can be loaded with cash and used like debit cards are the new payment form of choice for scammers, replacing the...
TheStreet.com  Oct 6  Comment 
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link. aTheStreet Ratings quantitative algorithm...
SeekingAlpha  Sep 30  Comment 
By Daniel Jennings: Wal-Mart Stores Inc. (NYSE:WMT) is attempting to tap an interesting new source of revenue: checking accounts. Wal-Mart's senior vice president, Daniel Eckert, told the media that the retail behemoth will begin offering low-cost...
TheStreet.com  Sep 29  Comment 
NEW YORK (TheStreet) -- Walmart aannounced a partnership with GoBank -- a subsidiary of publicly traded Green Dot -- last week. But the announcement may really mark a windfall for Green Dot and for investors alike. The deal may not translate...
DailyFinance  Sep 29  Comment 
Filed under: Company News, Earnings, Market News, Investing Tim Boyle/Bloomberg/Getty ImagesJanus Capital stock surge when the firm hired investing guru Bill Gross. In any given week, some stocks are sure to shoot up, and others will plummet....
Market Intelligence Center  Sep 26  Comment 
Prepaid card pioneer Green Dot Corporation (GDOT) has partnered with retail giant Wal-Mart Stores Inc. (WMT) to launch GoBank – a low-cost checking account service that will be linked to a MasterCard (MA) debit card. A nationwide rollout of the...
SeekingAlpha  Sep 25  Comment 
By Benjamin Sinclair: It sure has been a crazy week for Green Dot (NYSE:GDOT) and its shareholders. Last week, the leading provider of prepaid debit cards announced a transformative acquisition, and yesterday the company announced that its bank...
Benzinga  Sep 25  Comment 
In a report published Thursday, Morgan Stanley analyst Smittipon Srethapramote reiterated an Equal-Weight rating on Green Dot Corporation (NYSE: GDOT), but removed the $20.00 price target. In the report, Morgan Stanley noted, “While visibility...




 
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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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