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

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

Other hedge funds have also modified their holdings of the company. Ancora Advisors LLC bought a new position in shares of OppFi in the fourth quarter worth approximately $65,000. Mariner LLC bought a new position in shares of OppFi in the fourth quarter worth approximately $93,000. MetLife Investment Management LLC bought a new position in shares of OppFi in the fourth quarter worth approximately $98,000. NewEdge Advisors LLC boosted its position in shares of OppFi by 4.7% in the fourth quarter. NewEdge Advisors LLC now owns 18,328 shares of the company's stock worth $140,000 after purchasing an additional 831 shares during the period. Finally, State of Tennessee Department of Treasury bought a new position in shares of OppFi in the fourth quarter worth approximately $155,000. 7.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OPFI has been the subject of a number of research reports. JMP Securities upgraded shares of OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 target price for the company in a research report on Thursday, May 8th. Citizens Jmp upgraded shares of 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 target price on shares of OppFi in a research report on Thursday, March 6th.

OppFi Trading Up 4.6%

Shares of NYSE:OPFI traded up $0.62 during midday trading on Friday, reaching $14.17. 1,426,196 shares of the company were exchanged, compared to its average volume of 901,901. The business's fifty day moving average is $10.44 and its two-hundred day moving average is $10.14. OppFi Inc. has a one year low of $3.05 and a one year high of $17.73. The stock has a market cap of $1.23 billion, a PE ratio of 88.57 and a beta of 1.73.

OppFi (NYSE:OPFI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.12. OppFi had a net margin of 1.40% and a return on equity of 35.04%. The firm had revenue of $140.27 million during the quarter, compared to analyst estimates of $137.71 million. As a group, sell-side analysts expect that OppFi Inc. will post 0.86 EPS for the current year.

OppFi Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Friday, April 18th. Shareholders of record on Tuesday, April 8th were paid a $0.25 dividend. The ex-dividend date was Tuesday, April 8th.

Insiders Place Their Bets

In other OppFi news, Director Theodore G. Schwartz sold 79,559 shares of OppFi stock in a transaction on Monday, March 17th. The shares were sold at an average price of $9.13, for a total value of $726,373.67. Following the completion of the transaction, the director now directly owns 186,737 shares of the company's stock, valued at $1,704,908.81. This trade represents a 29.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher J. Mckay sold 10,377 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $7.83, for a total transaction of $81,251.91. Following the completion of the sale, the insider now owns 206,667 shares of the company's stock, valued at $1,618,202.61. This trade represents a 4.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,374,418 shares of company stock valued at $13,725,493 in the last three months. Corporate insiders own 72.00% of the company's stock.

OppFi 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.