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Green Dot Corp (NYSE:GDOT), currently trading at $8.22, has amended its existing agreement with Walmart, extending the partnership involving the Walmart MoneyCard program until January 31, 2033. The amendment, effective May 1, 2025, includes an automatic renewal for an additional year unless a party opts out with a 180-day notice prior to the expiration. According to InvestingPro data, while the stock has seen a 25% decline over the past six months, analysts expect net income growth this year.
This extension maintains Green Dot’s role as the issuing bank and program manager for Walmart’s MoneyCard program. Additionally, as part of the agreement, TailFin Labs, LLC—a fintech accelerator jointly established by Walmart and Green Dot—will pay a one-time, non-refundable incentive payment of $70 million to RNBW Ventures Inc., a Delaware corporation involved in the program.
The amendment also stipulates that RNBW will collaborate with Walmart to achieve certain in-store display targets for MoneyCard and other Green Dot-branded products. The full details of the amendment will be disclosed in Green Dot’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2025.
Green Dot Corporation, a financial technology and bank holding company, is known for offering personal banking products, including prepaid debit cards, checking accounts, and cash processing services. The company’s partnership with Walmart has been a significant aspect of its business, distributing products through the extensive Walmart store network.
The information provided in this article is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Green Dot Corporation has made several strategic moves and announcements that are of interest to investors. The company is exploring potential strategic alternatives with the assistance of Citigroup (NYSE:C), following the recent appointment of William Jacobs as interim CEO and Chris Ruppel as interim President. This exploration of options has prompted analysts at Northland and Craig-Hallum to upgrade Green Dot’s stock, setting price targets of $12 and $14, respectively, citing the company’s diverse assets and potential sale as positive developments. The company’s Banking-as-a-Service platform and Tax segment are highlighted as valuable components that could attract significant interest.
Additionally, Green Dot has appointed Kim Olson as the new Chief Risk Officer, tasked with overseeing the company’s risk management strategy. Olson brings over three decades of experience in the financial services industry, including senior roles at Discover Financial Services and global banking organizations. Her appointment is part of Green Dot’s ongoing efforts to strengthen its compliance and risk management capabilities.
These developments come amid leadership changes, with George Gresham stepping down as CEO, and are part of Green Dot’s broader strategy to navigate a highly regulated environment. The company, which has managed over 80 million accounts since its inception, continues to focus on providing banking and payment solutions through its various brands. Investors will be watching closely as Green Dot progresses with its strategic review and potential sale process.
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