JMP Securities Reiterates “Market Outperform” Rating for OppFi (NYSE:OPFI)

JMP Securities reiterated their market outperform rating on shares of OppFi (NYSE:OPFI) in a report released on Wednesday morning, Benzinga reports. JMP Securities currently has a $5.00 target price on the stock.

OppFi Stock Performance

NYSE:OPFI opened at $2.99 on Wednesday. The firm has a market cap of $330.90 million, a price-to-earnings ratio of -149.43 and a beta of 1.23. OppFi has a 52 week low of $1.81 and a 52 week high of $5.34. The firm has a 50-day moving average price of $3.01 and a two-hundred day moving average price of $3.28.

OppFi (NYSE:OPFI) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $132.92 million during the quarter, compared to analyst estimates of $133.49 million. OppFi had a negative net margin of 0.20% and a positive return on equity of 23.92%. During the same quarter last year, the business posted ($0.19) EPS. As a group, sell-side analysts forecast that OppFi will post 0.55 earnings per share for the current year.

OppFi Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 19th will be paid a $0.12 dividend. The ex-dividend date is Thursday, April 18th.

Institutional Investors Weigh In On OppFi

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its stake in shares of OppFi by 2.8% during the 4th quarter. Nuveen Asset Management LLC now owns 110,671 shares of the company’s stock worth $567,000 after purchasing an additional 2,999 shares during the last quarter. State Street Corp increased its stake in shares of OppFi by 10.8% during the 1st quarter. State Street Corp now owns 44,634 shares of the company’s stock worth $153,000 after purchasing an additional 4,334 shares during the last quarter. Mariner LLC increased its stake in shares of OppFi by 24.4% during the 3rd quarter. Mariner LLC now owns 22,838 shares of the company’s stock worth $58,000 after purchasing an additional 4,477 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of OppFi by 20.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 30,259 shares of the company’s stock worth $70,000 after purchasing an additional 5,134 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of OppFi by 479.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,696 shares of the company’s stock worth $29,000 after purchasing an additional 7,196 shares during the last quarter. Hedge funds and other institutional investors own 7.10% of the company’s stock.

About OppFi

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.