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

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw strong trading volume on Monday . Approximately 67,138 shares were traded during trading, a decline of 7% from the previous session’s volume of 72,090 shares.The stock last traded at $114.3970 and had previously closed at $109.46.

Analyst Upgrades and Downgrades

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

Oppenheimer Trading Up 6.6%

The company has a 50 day moving average of $101.13 and a 200-day moving average of $91.30. The firm has a market capitalization of $1.25 billion, a P/E ratio of 13.91 and a beta of 1.07.

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

Oppenheimer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.20 dividend. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. This represents a $0.80 annualized dividend and a yield of 0.7%. Oppenheimer’s dividend payout ratio is presently 9.54%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Arax Advisory Partners increased 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 purchasing an additional 477 shares during the period. Torren Management LLC bought a new stake in shares of Oppenheimer in the fourth quarter valued at approximately $38,000. Barclays PLC bought a new stake in shares of Oppenheimer in the fourth quarter valued at approximately $40,000. Clearstead Advisors LLC grew its position in Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock worth $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 worth approximately $49,000. Institutional investors and hedge funds own 32.26% of the company’s stock.

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.