OneMain (NYSE:OMF) Stock Price Target Lowered at Wells Fargo & Company

OneMain (NYSE:OMF) had its target price lowered by Wells Fargo & Company from $65.00 to $62.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on OMF. Evercore set a $60.00 price objective on shares of OneMain in a report on Thursday, October 1st. Truist Financial cut their price objective on shares of OneMain from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday. Bank of America reduced their target price on shares of OneMain from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Monday. TD Cowen decreased their target price on shares of OneMain from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Finally, Citizens Jmp boosted their price target on shares of OneMain from $68.00 to $70.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, OneMain currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.82.

OneMain Trading Up 2.4%

Shares of NYSE OMF opened at $57.96 on Wednesday. The stock’s 50-day moving average is $58.67 and its 200 day moving average is $58.33. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 0.65 and a beta of 1.30. OneMain has a 1-year low of $45.78 and a 1-year high of $71.93.

OneMain (NYSE:OMF) last issued its earnings results on Friday, October 30th. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.05). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.34 billion. OneMain had a return on equity of 21.90% and a net margin of 13.43%. During the same period in the prior year, the company earned $1.90 EPS. On average, analysts forecast that OneMain will post 6.59 EPS for the current fiscal year.

OneMain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Monday, November 9th will be paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Monday, November 9th. OneMain’s dividend payout ratio is 63.93%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of OneMain in the second quarter valued at about $633,893,000. Jupiter Topco LLC purchased a new stake in shares of OneMain during the second quarter worth about $166,060,000. Bank of New York Mellon Corp purchased a new stake in shares of OneMain during the second quarter worth about $63,980,000. Azora Capital LP boosted its holdings in shares of OneMain by 266.0% during the second quarter. Azora Capital LP now owns 1,063,857 shares of the financial services provider’s stock worth $64,863,000 after purchasing an additional 773,192 shares during the period. Finally, Patient Capital Management LLC bought a new stake in shares of OneMain in the second quarter worth about $42,824,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting OneMain

Here are the key news stories impacting OneMain this week:

• Positive Sentiment: A Seeking Alpha article argued that OneMain’s credit performance is improving while growth is accelerating, and assigned the stock a “Strong Buy” view. OneMain Holdings: Credit Improving While Growth Accelerates (Strong Buy)
• Positive Sentiment: JPMorgan raised its price target, providing a supportive analyst signal. OneMain Stock Gets Price Target Increase from JPMorgan
• Positive Sentiment: Truist cut its target slightly, from $71 to $70, but maintained a “buy” rating; its target implies substantial upside from the cited share price. Truist recommendation
• Neutral Sentiment: Wells Fargo lowered its target from $65 to $62 and kept an “equal weight” rating, signaling a more cautious view while still indicating modest potential upside at the cited price. Wells Fargo recommendation
• Negative Sentiment: Royal Bank of Canada and Barclays also cut their price targets, adding to the cautious analyst commentary. RBC target cut Barclays target cut
• Negative Sentiment: Northland trimmed its FY2027 EPS estimate to $8.25 from $8.32. Also, OneMain’s latest reported quarterly EPS of $1.51 missed the $1.56 consensus and was below the year-earlier $1.90, though revenue exceeded estimates.

About OneMain

OneMain Holdings, Inc, operating under the OneMain Financial brand, is a consumer finance company that provides personal lending and related financial services primarily to non-prime consumers in the United States. The company serves customers through a combination of branch locations, online and mobile channels, and centralized customer service operations.

OneMain’s principal products include secured and unsecured personal loans, which customers may use for debt consolidation, home improvements, major purchases, and other personal expenses.