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Financial Sector Update for 02/23/2017: GDOT,TREE,OCN

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Financial stocks have turned mixed this afternoon, with the NYSE Financial Sector Index rising less than 0.1% while financial companies in the S&P 500 Index still were down about 0.1%.

In company news, Green Dot Corp ( GDOT ) climbed to a nearly five-year high on Thursday after the pre-paid card and payments processor late yesterday reported Q4 financial results exceeding analyst estimates and also forecasting FY17 net income beating Street views.

The company earned $0.19 per share during the three months ended Dec. 31, topping the Capital IQ consensus by $0.04 per share. Revenue rose  7.8% over year-ago levels to $162.77 million, also surpassing the $156.53 million consensus.

For the 12 months ending in December, Green Dot is expecting net income in a range of $1.85 to $1.93 per share, beating the analyst mean by at least $0.11 per share. It also sees revenue this year between $815 million to $830 million compared with the $749.22 million consensus.

GDOT shares were up almost 9% at $29.16 each in recent trade, earlier climbing to their best price since May 2012 at $29.52 a share.

In other sector news,

(+) TREE, (+0.2%) Non-GAAP Q4 EPS of $0.87 exceeds Capital IQ consensus by $0.09 per share. Revenue rises 28.7% to $100.8 mln, also topping the $97.43 mln consensus. Guides Q1, FY17 revenue above Street views.

(-) OCN, (-18.5%) Q4 revenue falls 10.6% from year-ago levels to $323.9 mln, trailing the $334.18 mln consensus. Adjusted net loss of $0.08 per share is half the $0.16Â per share loss in the two-analyst estimate.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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