Oppenheimer (NYSE:OPY) Sees Strong Trading Volume After Dividend Announcement

Oppenheimer Holdings, Inc. (NYSE:OPY) saw strong trading volume on Monday following a dividend announcement from the company. 51,888 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 36,907 shares.The stock last traded at $74.2350 and had previously closed at $72.57.

The newly announced dividend which will be paid on Friday, January 9th. Stockholders of record on Friday, December 26th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, December 26th. Oppenheimer’s payout ratio is currently 9.66%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Oppenheimer in a research note on Wednesday, October 8th. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Oppenheimer Trading Up 1.2%

The company has a fifty day moving average price of $68.40 and a two-hundred day moving average price of $69.59. The company has a market cap of $778.22 million, a price-to-earnings ratio of 9.94 and a beta of 1.19.

Oppenheimer (NYSE:OPY) last announced its quarterly earnings results on Friday, October 31st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter. Oppenheimer had a net margin of 5.50% and a return on equity of 9.58%. The firm had revenue of $401.94 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners increased its stake in shares of Oppenheimer by 457.7% in the 1st quarter. Boston Partners now owns 71,568 shares of the financial services provider’s stock valued at $4,268,000 after acquiring an additional 58,735 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Oppenheimer by 17.3% in the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock valued at $22,115,000 after buying an additional 44,145 shares during the period. Invesco Ltd. increased its position in shares of Oppenheimer by 864.7% in the 1st quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider’s stock valued at $2,480,000 after buying an additional 37,284 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Oppenheimer in the second quarter worth about $2,016,000. Finally, Algert Global LLC lifted its holdings in shares of Oppenheimer by 726.5% during the 3rd 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 in the last quarter. 32.26% of the stock is owned by institutional investors and hedge funds.

Oppenheimer Company Profile

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.