State Street Corp Purchases 107,458 Shares of Oportun Financial Co. (NASDAQ:OPRT)

State Street Corp boosted its holdings in Oportun Financial Co. (NASDAQ:OPRT) by 31.9% in the second quarter, Holdings Channel reports. The institutional investor owned 444,493 shares of the company’s stock after buying an additional 107,458 shares during the period. State Street Corp’s holdings in Oportun Financial were worth $8,903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. HighTower Advisors LLC raised its holdings in Oportun Financial by 3.4% in the 2nd quarter. HighTower Advisors LLC now owns 13,441 shares of the company’s stock valued at $274,000 after buying an additional 447 shares during the last quarter. Northern Trust Corp increased its position in Oportun Financial by 0.3% during the 2nd quarter. Northern Trust Corp now owns 188,210 shares of the company’s stock valued at $3,770,000 after purchasing an additional 493 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Oportun Financial by 36.7% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,130 shares of the company’s stock valued at $63,000 after purchasing an additional 841 shares during the period. Bank of New York Mellon Corp increased its position in Oportun Financial by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 69,744 shares of the company’s stock valued at $1,397,000 after purchasing an additional 1,047 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Oportun Financial by 10.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,579 shares of the company’s stock valued at $252,000 after purchasing an additional 1,217 shares during the period. Institutional investors and hedge funds own 70.47% of the company’s stock.

In related news, CFO Jonathan Aaron Coblentz sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, November 11th. The stock was sold at an average price of $27.50, for a total transaction of $286,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick Kirscht sold 2,000 shares of Oportun Financial stock in a transaction on Friday, September 10th. The shares were sold at an average price of $24.63, for a total value of $49,260.00. Following the sale, the insider now directly owns 142,942 shares of the company’s stock, valued at $3,520,661.46. The disclosure for this sale can be found here. Insiders have sold 28,605 shares of company stock worth $745,185 over the last three months. Insiders own 12.60% of the company’s stock.

NASDAQ:OPRT opened at $23.24 on Thursday. The stock has a 50 day moving average price of $24.89. The company has a market cap of $659.74 million, a P/E ratio of 16.84 and a beta of 1.27. Oportun Financial Co. has a 1-year low of $15.35 and a 1-year high of $27.95.

Oportun Financial (NASDAQ:OPRT) last posted its earnings results on Wednesday, November 3rd. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.47. Oportun Financial had a return on equity of 19.91% and a net margin of 7.27%. During the same quarter in the previous year, the firm earned ($0.04) EPS. As a group, sell-side analysts forecast that Oportun Financial Co. will post 2.03 EPS for the current fiscal year.

A number of research firms have weighed in on OPRT. JMP Securities increased their target price on shares of Oportun Financial from $26.00 to $30.00 and gave the company a “market outperform” rating in a research report on Monday, November 8th. Zacks Investment Research raised shares of Oportun Financial from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research report on Friday, November 12th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of Oportun Financial in a research report on Friday, August 6th. Finally, Barclays raised their price objective on shares of Oportun Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 4th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $27.60.

Oportun Financial Company Profile

Oportun Financial Corporation provides financial services in the United States. It offers personal loans, auto loans, and credit cards. The company serves customers online and over-the-phone, as well as through retail locations. Oportun Financial Corporation was founded in 2005 and is headquartered in San Carlos, California.

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Institutional Ownership by Quarter for Oportun Financial (NASDAQ:OPRT)

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