Oppenheimer (NYSE:OPY) Sees Large Volume Increase – Should You Buy?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw an uptick in trading volume on Tuesday . 87,164 shares changed hands during mid-day trading, an increase of 13% from the previous session’s volume of 77,048 shares.The stock last traded at $110.0050 and had previously closed at $110.02.

Analyst Ratings Changes

Several equities research analysts have weighed in on OPY shares. Weiss Ratings lowered shares of Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Oppenheimer Price Performance

The company has a market cap of $1.18 billion, a price-to-earnings ratio of 13.13 and a beta of 1.07. The stock has a 50-day moving average price of $104.94 and a 200 day moving average price of $95.68.

Oppenheimer (NYSE:OPY) last issued its quarterly earnings data on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 17.49% and a net margin of 5.66%.The business had revenue of $445.10 million during the quarter.

Oppenheimer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. This is a boost from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. Oppenheimer’s dividend payout ratio is currently 9.54%.

Institutional Investors Weigh In On Oppenheimer

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arax Advisory Partners raised its holdings in shares of Oppenheimer by 47,700.0% during the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 477 shares during the period. Torren Management LLC bought a new position in Oppenheimer during the 4th quarter worth about $38,000. Barclays PLC bought a new position in Oppenheimer during the 4th quarter worth about $40,000. Clearstead Advisors LLC raised its stake in shares of Oppenheimer by 193.9% in the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 415 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Oppenheimer in the 2nd quarter valued at about $49,000. 32.26% of the stock is currently owned by institutional investors and hedge funds.

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.