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

Oppenheimer Holdings, Inc. (NYSE:OPY) saw strong trading volume on Tuesday . 72,013 shares changed hands during mid-day trading, an increase of 16% from the previous session’s volume of 61,869 shares.The stock last traded at $100.9660 and had previously closed at $97.38.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded 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 assigned a Hold rating to the stock. Based on data from MarketBeat, Oppenheimer has an average rating of “Moderate Buy”.

Oppenheimer Stock Performance

The stock has a market cap of $1.07 billion, a PE ratio of 11.91 and a beta of 1.10. The stock has a 50 day moving average of $99.46 and a two-hundred day moving average of $86.26.

Oppenheimer (NYSE:OPY) last issued its 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 firm had revenue of $445.10 million for the quarter.

Oppenheimer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.20 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. This is an increase from Oppenheimer’s previous quarterly dividend of $0.18. Oppenheimer’s dividend payout ratio is currently 9.54%.

Institutional Investors Weigh In On Oppenheimer

Several large investors have recently modified their holdings of the stock. Arax Advisory Partners boosted its position in shares of Oppenheimer by 47,700.0% in the 4th 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 last quarter. Torren Management LLC acquired a new stake in shares of Oppenheimer in the fourth quarter valued at about $38,000. Barclays PLC acquired a new stake in shares of Oppenheimer in the fourth quarter valued at about $40,000. Clearstead Advisors LLC increased its position in shares of Oppenheimer by 193.9% in the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 415 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in Oppenheimer during the second quarter worth about $49,000. 32.26% of the stock is currently owned by institutional investors.

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.