Oppenheimer (NYSE:OPY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Oppenheimer (NYSE:OPY) from a hold rating to a buy rating in a report issued on Saturday morning.

Separately, Weiss Ratings raised shares of Oppenheimer from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Oppenheimer Price Performance

Shares of OPY opened at $112.71 on Friday. The business’s fifty day moving average price is $106.55 and its 200 day moving average price is $96.97. Oppenheimer has a 12-month low of $63.81 and a 12-month high of $123.24. The stock has a market capitalization of $1.21 billion, a PE ratio of 12.72 and a beta of 1.09.

Oppenheimer (NYSE:OPY) last released its quarterly earnings data on Friday, July 31st. The financial services provider reported $3.98 EPS for the quarter. The firm had revenue of $454.88 million during the quarter. Oppenheimer had a net margin of 5.72% and a return on equity of 19.70%.

Oppenheimer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Oppenheimer’s payout ratio is presently 9.03%.

Institutional Investors Weigh In On Oppenheimer

A number of hedge funds have recently made changes to their positions in OPY. Millennium Management LLC raised its stake in Oppenheimer by 56.6% during the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock valued at $8,294,000 after acquiring an additional 41,485 shares in the last quarter. State Street Corp grew its stake in shares of Oppenheimer by 109.6% in the fourth quarter. State Street Corp now owns 67,421 shares of the financial services provider’s stock worth $4,941,000 after purchasing an additional 35,250 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Oppenheimer in the second quarter worth $2,016,000. Algert Global LLC increased its holdings in shares of Oppenheimer by 726.5% during the third quarter. Algert Global LLC now owns 33,779 shares of the financial services provider’s stock valued at $2,497,000 after purchasing an additional 29,692 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Oppenheimer by 146.4% during the second quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock valued at $2,949,000 after purchasing an additional 26,643 shares during the period. Institutional investors own 32.26% of the company’s stock.

Oppenheimer Company Profile

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.