Oppenheimer (NYSE:OPY) Sees Large Volume Increase – What’s Next?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw an uptick in trading volume on Tuesday . Approximately 109,350 shares traded hands during trading, an increase of 29% from the previous session’s volume of 84,828 shares.The stock last traded at $120.62 and had previously closed at $118.79.

Analysts Set New Price Targets

OPY has been the topic of several recent analyst reports. Weiss Ratings upgraded 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Oppenheimer has a consensus rating of “Buy”.

Oppenheimer Stock Up 0.2%

The firm has a 50-day moving average price of $112.81 and a two-hundred day moving average price of $101.60. The company has a market capitalization of $1.27 billion, a P/E ratio of 13.43 and a beta of 1.09.

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

Oppenheimer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. Oppenheimer’s payout ratio is presently 9.03%.

Institutional Investors Weigh In On Oppenheimer

Several hedge funds have recently made changes to their positions in the stock. 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 worth $328,000 after buying an additional 97 shares in the last quarter. Boothbay Fund Management LLC raised its holdings in Oppenheimer by 0.4% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Oppenheimer by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock worth $4,467,000 after acquiring an additional 214 shares during the period. Inspire Investing LLC lifted its position in shares of Oppenheimer by 6.3% in the 4th quarter. Inspire Investing LLC now owns 6,507 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 385 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Oppenheimer by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 22,800 shares of the financial services provider’s stock worth $2,034,000 after purchasing an additional 400 shares in the last quarter. 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.