Wells Fargo & Company MN Increases Stock Holdings in OppFi Inc. (NYSE:OPFI)

Wells Fargo & Company MN grew its holdings in OppFi Inc. (NYSE:OPFI - Free Report) by 577.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 42,144 shares of the company's stock after acquiring an additional 35,921 shares during the quarter. Wells Fargo & Company MN's holdings in OppFi were worth $323,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Jane Street Group LLC increased its holdings in shares of OppFi by 28.9% in the 3rd quarter. Jane Street Group LLC now owns 25,842 shares of the company's stock valued at $122,000 after acquiring an additional 5,795 shares during the last quarter. JPMorgan Chase & Co. grew its stake in OppFi by 271.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,585 shares of the company's stock worth $173,000 after buying an additional 26,742 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in OppFi during the 4th quarter worth approximately $195,000. Barclays PLC grew its stake in OppFi by 95.9% during the 3rd quarter. Barclays PLC now owns 42,141 shares of the company's stock worth $199,000 after buying an additional 20,630 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in OppFi during the 4th quarter worth approximately $228,000. Hedge funds and other institutional investors own 7.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Northland Securities set a $13.00 price target on OppFi in a research note on Thursday, March 6th. JMP Securities upgraded OppFi from a "market perform" rating to a "market outperform" rating and set a $13.50 price target on the stock in a research note on Thursday. Finally, Citizens Jmp upgraded OppFi from a "market perform" rating to an "outperform" rating and set a $13.50 price target on the stock in a research note on Thursday.

OppFi Stock Up 0.2%

NYSE:OPFI traded up $0.02 during mid-day trading on Friday, reaching $11.63. 972,165 shares of the stock were exchanged, compared to its average volume of 822,497. OppFi Inc. has a 1 year low of $2.82 and a 1 year high of $17.73. The company has a 50 day simple moving average of $9.28 and a 200-day simple moving average of $9.24. The stock has a market capitalization of $1.00 billion, a P/E ratio of 72.69 and a beta of 1.61.

OppFi (NYSE:OPFI - Get Free Report) last released its quarterly earnings results 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 return on equity of 35.04% and a net margin of 1.40%. The business had revenue of $140.27 million during the quarter, compared to analysts' expectations of $137.71 million. As a group, research analysts predict that OppFi Inc. will post 0.86 EPS for the current year.

OppFi Announces Dividend

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

Insider Buying and Selling

In related news, Director David Vennettilli sold 30,762 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.09, for a total transaction of $279,626.58. Following the completion of the sale, the director now directly owns 90,762 shares of the company's stock, valued at $825,026.58. This trade represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher J. Mckay sold 10,377 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $9.00, for a total value of $93,393.00. Following the completion of the transaction, the insider now owns 248,175 shares of the company's stock, valued at $2,233,575. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,027,991 shares of company stock valued at $9,489,160 over the last three months. 84.00% of the stock is currently owned by company insiders.

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.