Northland upgrades Green Dot to 'outperform' amid strategic review

Green Dot

09/04/2025 12:28

** Northland Securities upgrades digital bank and fintech firm Green Dot GDOT.N to "outperform" from "market perform"

** Says GDOT has been talking about a turnaround for several years which hasn't materialized and it believes the bank is serious about a sale

** GDOT last month announced it had hired Citigroup C.N to explore potential strategic alternatives

 ** Brokerage says GDOT could be worth more than its current market cap in a sale, with the bank's various businesses likely to attract significant value, especially when broken apart

** Expects GDOT's tax and payroll card businesses as well its Utah banking charter to attract interest

** One of 5 brokerages rate the stock "buy", 3 "hold" and 1 "sell"; median PT $11 - data compiled by LSEG

** As of last close, GDOT stock down 37% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))