Oppenheimer (NYSE:OPY) Sees Large Volume Increase – Time to Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) saw an uptick in trading volume on Wednesday . 67,268 shares were traded during mid-day trading, a decline of 19% from the previous session’s volume of 83,013 shares.The stock last traded at $118.38 and had previously closed at $117.17.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OPY shares. Weiss Ratings raised shares of Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Oppenheimer from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Oppenheimer Trading Down 0.4%

The stock has a market cap of $1.25 billion, a PE ratio of 13.16 and a beta of 1.09. The business has a fifty day simple moving average of $110.89 and a two-hundred day simple moving average of $99.81.

Oppenheimer (NYSE:OPY) last released its earnings results on Friday, July 31st. The financial services provider reported $3.98 EPS for the quarter. Oppenheimer had a return on equity of 19.51% and a net margin of 5.72%.The company had revenue of $454.88 million during the quarter.

Oppenheimer Dividend Announcement

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

Hedge Funds Weigh In On Oppenheimer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arax Advisory Partners grew its position in shares of Oppenheimer by 47,700.0% in the 4th quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock worth $35,000 after buying an additional 477 shares during the period. Torren Management LLC purchased a new position in Oppenheimer during the 4th quarter valued at about $38,000. Barclays PLC purchased a new position in Oppenheimer during the 4th quarter valued at about $40,000. Clearstead Advisors LLC boosted its stake in Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 415 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in Oppenheimer in the second quarter worth about $49,000. Hedge funds and other institutional investors own 32.26% of the company’s stock.

About Oppenheimer

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.