Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw an uptick in trading volume on Tuesday . 49,107 shares were traded during trading, a decline of 24% from the previous session’s volume of 64,749 shares.The stock last traded at $107.7650 and had previously closed at $107.05.

Analyst Ratings Changes

A number of brokerages recently commented on OPY. Weiss Ratings lowered Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered Oppenheimer from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Oppenheimer presently has a consensus rating of “Moderate Buy”.

Oppenheimer Trading Up 1.0%

The firm has a market capitalization of $1.16 billion, a P/E ratio of 12.89 and a beta of 1.10. The firm has a 50 day moving average price of $100.79 and a 200-day moving average price of $87.52.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings data on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) for the quarter. The business 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 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. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. Oppenheimer’s dividend payout ratio is 9.54%.

Institutional Investors Weigh In On Oppenheimer

Hedge funds and other institutional investors have recently modified their holdings of the business. Arax Advisory Partners raised its holdings in shares of 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 buying an additional 477 shares during the period. Torren Management LLC purchased a new stake in shares of Oppenheimer in the fourth quarter worth approximately $38,000. Barclays PLC purchased a new stake in shares of Oppenheimer in the fourth quarter worth approximately $40,000. Clearstead Advisors LLC raised its holdings 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 worth $45,000 after buying an additional 415 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Oppenheimer in the second quarter worth approximately $49,000. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

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.