Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – What’s Next?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw strong trading volume on Monday . 51,554 shares traded hands during trading, a decline of 36% from the previous session’s volume of 81,102 shares.The stock last traded at $112.6280 and had previously closed at $111.64.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OPY shares. Weiss Ratings upgraded Oppenheimer from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded Oppenheimer from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Oppenheimer Trading Up 0.9%

The stock has a market capitalization of $1.21 billion, a P/E ratio of 12.72 and a beta of 1.09. The firm’s fifty day moving average is $108.35 and its 200-day moving average is $97.97.

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

Oppenheimer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Oppenheimer’s dividend payout ratio (DPR) is currently 9.03%.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors and hedge funds have recently bought and sold shares of OPY. Empowered Funds LLC increased its stake 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 valued at $4,109,000 after buying an additional 15,073 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Oppenheimer during the 1st quarter worth about $1,590,000. Renaissance Technologies LLC lifted its position in 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 buying an additional 400 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Oppenheimer by 9.0% during the 1st 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 last quarter. Finally, Sei Investments Co. increased its position in Oppenheimer by 57.9% in the 1st quarter. Sei Investments Co. now owns 12,532 shares of the financial services provider’s stock valued at $1,118,000 after acquiring an additional 4,593 shares in the last quarter. Institutional investors and hedge funds own 32.26% of the company’s stock.

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.