Oppenheimer (NYSE:OPY) Sees Strong Trading Volume – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY) shares saw unusually-strong trading volume on Monday . 36,236 shares traded hands during trading, a decline of 52% from the previous session’s volume of 75,521 shares.The stock last traded at $108.8320 and had previously closed at $109.13.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Oppenheimer from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Oppenheimer Price Performance

The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 13.07 and a beta of 1.07. The business’s 50-day simple moving average is $103.11 and its two-hundred day simple moving average is $94.12.

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

Oppenheimer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 15th. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. Oppenheimer’s dividend payout ratio (DPR) is currently 9.54%.

Institutional Investors Weigh In On Oppenheimer

A number of large investors have recently bought and sold shares of the stock. Arax Advisory Partners boosted its holdings in Oppenheimer by 47,700.0% in 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 in the last quarter. Torren Management LLC bought a new position in shares of Oppenheimer in the 4th quarter worth $38,000. Barclays PLC acquired a new stake in Oppenheimer in the 4th quarter valued at $40,000. Clearstead Advisors LLC grew its position in 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 bought a new stake in Oppenheimer during the 2nd quarter valued at $49,000. 32.26% of the stock is currently owned by institutional investors and hedge funds.

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.