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SAN CARLOS, Calif. - Oportun Financial Corporation (NASDAQ:OPRT), a financial services firm with a market capitalization of $211 million, announced today that it has received a board nomination from Findell Capital Management LLC. Findell has nominated two candidates for election to Oportun’s Board of Directors at the upcoming 2025 Annual Meeting of Shareholders. According to InvestingPro data, the company’s stock has shown remarkable resilience with a 135% return over the past year, despite recent market volatility.
The company’s board, in response, highlighted the strategic measures taken over the past three years to ensure Oportun’s robust path to long-term profitable growth. These actions have reportedly resulted in enhanced credit performance, strengthened business economics, and increased quality of loan originations. The board emphasized that its focus remains on driving strong performance and enhancing shareholder value. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 9.47, suggesting effective management of short-term obligations.
Oportun’s board has recently added four new independent directors, a decision influenced by input from Findell among others, to bring diverse expertise in areas crucial to Oportun’s strategic execution. The Nominating and Governance Committee of Oportun will assess Findell’s nominees and will make a formal recommendation to the shareholders in due course.
The company reassured shareholders that no immediate action is required from them at this moment. Oportun has enlisted Wilson Sonsini Goodrich & Rosati and FGS Global as legal and strategic communications advisors, respectively.
Oportun is recognized for its mission-driven approach, providing over $19.7 billion in responsible credit, and helping members save substantially in interest and fees. The company’s forward-looking statements suggest confidence in their business model, financial health, and growth projections for 2025. InvestingPro data reveals analysts expect significant revenue growth of 26% in 2025, with the company projected to return to profitability. For deeper insights into Oportun’s growth potential and comprehensive analysis, investors can access the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
However, these statements are subject to risks and uncertainties that could cause actual results to differ materially. Oportun plans to file a proxy statement with the SEC for the solicitation of proxies for the Annual Meeting, where more information about the board nominees and their interests will be available.
This article is based on a press release statement from Oportun Financial Corporation.
In other recent news, Oportun Financial Corp has reported notable developments, particularly in its financial performance and executive leadership. The company exceeded its fourth-quarter outlook, returned to GAAP profitability, and reduced operating expenses by about 40%, equating to over $240 million in annualized savings. This financial improvement follows the divestiture of its credit card portfolio and a strategic focus on core offerings like personal loans. Additionally, Oportun announced significant executive changes, with Paul Appleton stepping in as interim CFO after the retirement of Jonathan Coblentz and the departure of Casey Mueller.
Oportun is actively seeking a permanent CFO replacement, engaging an executive search firm to find suitable candidates. In governance news, the company has enhanced its Board of Directors by adding four independent directors, two of whom were recommended by Findell Capital Management LLC. Findell, a major shareholder, has been vocal about board changes, advocating for directors with lending experience to improve shareholder value.
Meanwhile, BTIG initiated coverage on Oportun Financial with a Buy rating and a $10 price target, citing potential earnings power despite current low valuation levels. The firm projects a 211% year-over-year growth in GAAP EPS for 2026, indicating optimism about Oportun’s ability to align with industry peers like OneMain Financial and Regional Management. These recent developments reflect Oportun’s ongoing efforts to optimize its financial performance and corporate governance structure.
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