Bank of America Corp DE Buys 195,139 Shares of OppFi Inc. (NYSE:OPFI)

Bank of America Corp DE grew its holdings in shares of OppFi Inc. (NYSE:OPFI - Free Report) by 1,745.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 206,317 shares of the company's stock after buying an additional 195,139 shares during the period. Bank of America Corp DE owned 0.24% of OppFi worth $1,580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC bought a new stake in OppFi in the fourth quarter valued at $65,000. Mariner LLC purchased a new stake in shares of OppFi in the 4th quarter worth about $93,000. MetLife Investment Management LLC purchased a new stake in shares of OppFi in the 4th quarter worth about $98,000. NewEdge Advisors LLC boosted its stake in shares of OppFi by 4.7% during the 4th quarter. NewEdge Advisors LLC now owns 18,328 shares of the company's stock valued at $140,000 after purchasing an additional 831 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of OppFi during the fourth quarter valued at about $155,000. Institutional investors own 7.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JMP Securities upgraded shares of OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 price objective for the company in a report on Thursday, May 8th. Citizens Jmp raised OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 target price for the company in a research report on Thursday, May 8th. Finally, Northland Securities set a $13.00 price target on OppFi in a research report on Thursday, March 6th.

OppFi Stock Up 4.6%

Shares of NYSE:OPFI traded up $0.62 during midday trading on Friday, reaching $14.17. The company's stock had a trading volume of 1,426,190 shares, compared to its average volume of 896,094. The firm has a 50 day moving average of $10.35 and a 200-day moving average of $10.05. The firm has a market capitalization of $1.23 billion, a P/E ratio of 88.57 and a beta of 1.73. OppFi Inc. has a 12-month low of $3.05 and a 12-month high of $17.73.

OppFi (NYSE:OPFI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.26 by $0.12. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The business had revenue of $140.27 million for the quarter, compared to analyst estimates of $137.71 million. On average, research analysts predict that OppFi Inc. will post 0.86 EPS for the current year.

OppFi Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Friday, April 18th. Investors of record on Tuesday, April 8th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, April 8th.

Insider Activity at OppFi

In other news, insider Christopher J. Mckay sold 10,377 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $9.00, for a total transaction of $93,393.00. Following the sale, the insider now owns 248,175 shares in the company, valued at $2,233,575. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Theodore G. Schwartz sold 79,559 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $9.13, for a total transaction of $726,373.67. Following the completion of the transaction, the director now owns 186,737 shares of the company's stock, valued at approximately $1,704,908.81. The trade was a 29.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,374,418 shares of company stock valued at $13,725,493 in the last 90 days. Corporate insiders own 72.00% of the company's stock.

OppFi Company Profile

OppFi Inc operates a cialty finance platform that allows banks to offer credit access. Its platform facilitates the OppLoans, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. OppFi Inc was founded in 2012 and is headquartered in Chicago, Illinois.