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Oportun Financial Corporation - OPRT STOCK NEWS

Welcome to our dedicated page for Oportun Financial Corporation news (Ticker: OPRT), a resource for investors and traders seeking the latest updates and insights on Oportun Financial Corporation stock.

Oportun Financial Corporation (Nasdaq: OPRT) is a mission-driven fintech company dedicated to providing responsible and affordable financial services, particularly to individuals with limited or no credit history. Formerly known as Progreso Financiero, Oportun focuses on empowering the underserved Hispanic community in the United States through advanced data analytics and technology.

Oportun’s suite of financial products includes personal loans, auto loans, unsecured personal loans, and secured personal loans. Additionally, the company offers deposit accounts, debit card services, and other transaction services to its customers. Oportun operates over 170 locations across California, Illinois, Texas, Utah, and Nevada, with a commitment to delivering a supportive service experience through bilingual staff and multi-channel support.

In recent news, Oportun entered into a $400 million whole loan flow sale agreement with Castlelake, an experienced investor in the consumer credit sector, to acquire personal loan production from Oportun over the next 12 months. This strategic relationship underscores the sustained strong demand for Oportun's lending products among institutional investors and is expected to bolster Oportun's mission of financial inclusion.

Since its inception, Oportun has provided over $17.8 billion in responsible credit, helping members save more than $2.4 billion in interest and fees. The company is also leveraging artificial intelligence to enhance its borrowing, saving, and budgeting capabilities, thereby aiding its 2.2 million members in building better financial futures.

Despite some challenges, including an 82% decline in stockholder return since its IPO in late 2019, Oportun's core business remains robust. The company’s leadership is under scrutiny from significant shareholders like Findell Capital Management, who are urging more decisive actions to unlock shareholder value.

For more detailed information on Oportun Financial Corporation and its latest developments, visit their website at Oportun.com.

News

Oportun Appoints Scott Parker to its Board of Directors in Cooperation with Findell Capital

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Oportun, a mission-driven fintech company, appoints Scott Parker as a new independent director and Richard Tambor as an observer to its Board of Directors. The appointments are in cooperation with Findell Capital Management , an investment firm owning approximately 7.7% of Oportun's outstanding common shares. The move is part of a Board refreshment process to enhance shareholder value and leverage their expertise in consumer finance and risk management. The Agreement includes standstill, voting, non-disparagement, and other provisions.
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Concerned Shareholders Issue Letter to Oportun Financial Corporation’s Board of Directors Regarding the Urgent Need for Changes in Management and Strategy

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Bradley Radoff and Josh Schechter, Concerned Shareholders of Oportun Financial (OPRT), urge the Board to replace CEO Raul Vazquez due to significant share price decline and poor financial performance. They emphasize the need for a CEO with relevant industry experience to prevent further value destruction.
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Oportun Wins “Best Use of AI in FinTech” at 2024 FinTech Breakthrough Awards

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Oportun (OPRT) wins the 'Best Use of AI in FinTech' award at the 2024 FinTech Breakthrough Awards for its innovative AI-powered financial solutions. The company has been honored multiple times for its consumer lending products and services, showcasing its commitment to financial inclusion and empowerment.
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Oportun Reports Fourth Quarter and Full Year 2023 Financial Results

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Oportun Financial Corporation (OPRT) reports strong financial results for Q4 2023 and full year 2023 with total revenue reaching $1.1 billion, an 11% increase year-over-year. Operating expenses decreased by 15%, with an additional $30 million in expense reductions announced. The company completed a $200 million ABS deal in February at lower pricing compared to a previous transaction. Full Year 2024 guidance anticipates improved profitability.
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Oportun to Present at Sidoti March Virtual Investor Conference

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Oportun (OPRT) to participate in Sidoti March Virtual Investor Conference with CEO and CFO presenting. Presentation scheduled for March 14th at 2:30 pm ET. Replay available for 90 days post-conference.
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Oportun to Report Fourth Quarter 2023 Financial Results on Tuesday, March 12, 2024

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Oportun (OPRT) to announce Q4 2023 financial results on March 12, 2024. Conference call and webcast scheduled for investors. Details on accessing the call and webcast provided.
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Oportun Completes $200 Million Asset Backed Securitization

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Oportun (OPRT) announced the issuance of $200 million of fixed rate asset-backed notes secured by a pool of installment loans. The offering included four classes of notes with ratings from KBRA. The weighted average coupon was 8.434%, showcasing investor confidence in Oportun's consumer loans.
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5 Questions With Angel Jordan, Oportun's Senior Manager Security Engagement & Education

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Oportun's Senior Manager Security Engagement & Education, Angel N. J., discusses the company's efforts in data privacy and cybersecurity awareness. She explains her role in creating protections against cyber attacks and educating team members on security practices. Angel shares her journey into the field and her work at Oportun, highlighting her focus on cybersecurity education and talent upskilling.
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Oportun Appoints Two New Independent Members to its Board of Directors

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Oportun (OPRT) has appointed two new independent board members, Carlos Minetti and Mohit Daswani, expanding the board to nine members. Carlos Minetti brings over 35 years of experience in consumer lending and credit risk, previously serving as President, Consumer Banking at Discover Financial Services. Mohit Daswani, the Chief Financial Officer of ThoughtSpot, Inc., has a background in finance, accounting, and executive leadership at companies like Square and PayPal. The additions are expected to strengthen Oportun's board and leadership team, providing extensive knowledge in consumer-related financial services and driving profitable, sustainable growth.
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Oportun Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

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Oportun (OPRT) Grants Restricted Stock Units to New Employees, Vests Over Four Years
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FAQ

What is the current stock price of Oportun Financial Corporation (OPRT)?

The current stock price of Oportun Financial Corporation (OPRT) is $3.93 as of December 20, 2024.

What is the market cap of Oportun Financial Corporation (OPRT)?

The market cap of Oportun Financial Corporation (OPRT) is approximately 136.0M.

What does Oportun Financial Corporation do?

Oportun provides responsible and affordable financial services, including personal loans, auto loans, and deposit accounts, primarily to individuals with limited or no credit history.

Who are Oportun Financial Corporation’s target customers?

Oportun primarily serves the underserved Hispanic community in the United States, focusing on individuals who have limited or no credit history.

What is Oportun's mission?

Oportun's mission is to provide affordable and responsible credit services to help its members build a better financial future.

How does Oportun determine an applicant’s ability to repay?

Oportun uses advanced data analytics and technology to assess every applicant's ability to repay, including those without an existing credit history.

How many locations does Oportun operate?

Oportun operates over 170 locations across California, Illinois, Texas, Utah, and Nevada.

What recent strategic transactions has Oportun engaged in?

Oportun recently entered a $400 million whole loan flow sale agreement with Castlelake to bolster its personal loan offerings.

What savings have Oportun members achieved?

Since its inception, Oportun has helped its members save over $2.4 billion in interest and fees.

What recognition has Oportun received for its use of technology?

Oportun was recognized by the FinTech Breakthrough Awards for its innovative use of AI to improve financial health and inclusion.

What is the current focus of Oportun's leadership?

Oportun’s leadership is currently under scrutiny from significant shareholders to take more decisive actions and improve overall financial performance and shareholder value.

Where can I find more information about Oportun Financial Corporation?

For more detailed information, visit Oportun’s website at https://oportun.com.

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Oportun Financial Corporation

Nasdaq:OPRT

OPRT Rankings

#4180 Ranked by Market Cap
N/A Ranked by Dividends

OPRT Stock Data

135.97M
32.16M
9.69%
79.59%
0.28%
Credit Services
Finance Services
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United States of America
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