Oppenheimer (NYSE:OPY) Sees Large Volume Increase – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY) shares saw unusually-high trading volume on Wednesday . Approximately 91,846 shares were traded during trading, an increase of 50% from the previous session’s volume of 61,293 shares.The stock last traded at $93.00 and had previously closed at $95.09.

Analysts Set New Price Targets

OPY has been the topic of a number of recent research reports. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Oppenheimer presently has an average rating of “Moderate Buy”.

Oppenheimer Stock Down 1.4%

The company has a 50 day moving average of $98.38 and a 200 day moving average of $85.19. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 11.18 and a beta of 1.10.

Oppenheimer (NYSE:OPY) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $4.21 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 for the quarter.

Oppenheimer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, May 15th. This is an increase from Oppenheimer’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.9%. Oppenheimer’s payout ratio is currently 9.54%.

Institutional Trading of Oppenheimer

Institutional investors and hedge funds have recently bought and sold shares of the company. Arax Advisory Partners raised its stake in Oppenheimer by 47,700.0% during the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock valued at $35,000 after buying an additional 477 shares in the last quarter. Torren Management LLC acquired a new stake in Oppenheimer during the fourth quarter valued at approximately $38,000. Barclays PLC acquired a new stake in Oppenheimer during the fourth quarter valued at approximately $40,000. Clearstead Advisors LLC raised its stake in Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after buying an additional 415 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Oppenheimer during the second quarter valued at approximately $49,000. 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.