Oppenheimer (NYSE:OPY) Sees Large Volume Increase – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPYGet Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 91,846 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 61,293 shares.The stock last traded at $93.00 and had previously closed at $95.09.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OPY shares. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Oppenheimer has a consensus rating of “Moderate Buy”.

Read Our Latest Stock Report on Oppenheimer

Oppenheimer Price Performance

The company has a market capitalization of $1.00 billion, a PE ratio of 11.18 and a beta of 1.10. The stock has a 50-day simple moving average of $98.38 and a 200 day simple moving average of $85.19.

Oppenheimer (NYSE:OPYGet Free Report) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share for the quarter. The company had revenue of $445.10 million during the quarter. Oppenheimer had a return on equity of 17.49% and a net margin of 5.66%.

Oppenheimer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.20 dividend. This is an increase from Oppenheimer’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 15th. Oppenheimer’s dividend payout ratio (DPR) is presently 9.54%.

Institutional Investors Weigh In On Oppenheimer

A number of institutional investors have recently added to or reduced their stakes in the company. DGS Capital Management LLC grew its position in Oppenheimer by 2.7% during the first quarter. DGS Capital Management LLC now owns 3,681 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 97 shares during the period. Boothbay Fund Management LLC grew its position in Oppenheimer by 0.4% during the fourth quarter. Boothbay Fund Management LLC now owns 32,219 shares of the financial services provider’s stock valued at $2,329,000 after acquiring an additional 120 shares during the period. Geode Capital Management LLC grew its position in Oppenheimer by 0.3% during the second quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock valued at $4,467,000 after acquiring an additional 214 shares during the period. Inspire Investing LLC grew its position in Oppenheimer by 6.3% during the fourth quarter. Inspire Investing LLC now owns 6,507 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 385 shares during the period. Finally, Renaissance Technologies LLC grew its position in Oppenheimer by 1.8% during the first quarter. Renaissance Technologies LLC now owns 22,800 shares of the financial services provider’s stock valued at $2,034,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Oppenheimer Company Profile

(Get Free Report)

Oppenheimer & Co Inc is a full-service investment bank and wealth management firm headquartered in New York City. Founded in the mid-20th century, the company provides a broad array of financial services to individual, institutional and corporate clients. Its core competencies include equity and fixed-income research, institutional sales and trading, underwriting and merger-and-acquisition advisory.

In the wealth management segment, Oppenheimer offers tailored investment solutions, comprehensive financial planning and retirement strategies.

Further Reading

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