Oppenheimer (NYSE:OPY) Issues Quarterly Earnings Results

Oppenheimer (NYSE:OPY) posted its earnings results on Friday. The financial services provider reported $3.98 EPS for the quarter, FiscalAI reports. Oppenheimer had a return on equity of 17.49% and a net margin of 5.66%.The business had revenue of $454.88 million during the quarter.

Oppenheimer Price Performance

Oppenheimer stock traded down $4.18 during mid-day trading on Friday, reaching $106.52. 211,642 shares of the stock traded hands, compared to its average volume of 79,961. Oppenheimer has a 12-month low of $63.81 and a 12-month high of $123.24. The business’s 50-day moving average is $105.92 and its 200-day moving average is $96.48. The stock has a market capitalization of $1.14 billion, a PE ratio of 12.70 and a beta of 1.07.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on OPY shares. Weiss Ratings raised Oppenheimer from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Oppenheimer has a consensus rating of “Buy”.

Institutional Investors Weigh In On Oppenheimer

Large investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in shares of Oppenheimer by 48.6% in the first quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider’s stock worth $4,109,000 after buying an additional 15,073 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Oppenheimer during the first quarter valued at approximately $1,590,000. Renaissance Technologies LLC increased its holdings 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 buying an additional 400 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Oppenheimer by 9.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 72,035 shares of the financial services provider’s stock worth $6,425,000 after acquiring an additional 5,971 shares during the period. Finally, Sei Investments Co. raised its position in Oppenheimer by 57.9% in the first quarter. Sei Investments Co. now owns 12,532 shares of the financial services provider’s stock worth $1,118,000 after acquiring an additional 4,593 shares during the period. 32.26% of the stock is currently owned by institutional investors.

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.