Oppenheimer (NYSE:OPY) Shares Gap Up Following Dividend Announcement

Oppenheimer Holdings Inc. (NYSE:OPY) gapped up prior to trading on Friday following a dividend announcement from the company. The stock had previously closed at $48.50, but opened at $50.00. Oppenheimer shares last traded at $50.02, with a volume of 3,135 shares trading hands.

The newly announced dividend which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, November 8th. Oppenheimer’s dividend payout ratio (DPR) is presently 13.14%.

Oppenheimer Trading Up 11.4 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.28 and a quick ratio of 0.79. The firm’s 50 day moving average price is $50.27 and its 200 day moving average price is $47.64. The stock has a market capitalization of $558.34 million, a P/E ratio of 9.86 and a beta of 1.15.

Oppenheimer (NYSE:OPY) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 8.33% and a net margin of 4.70%. The company had revenue of $373.35 million for the quarter.

Insider Activity

In other Oppenheimer news, insider Dennis P. Mcnamara sold 6,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $51.28, for a total value of $307,680.00. Following the completion of the transaction, the insider now directly owns 20,681 shares in the company, valued at approximately $1,060,521.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.49% of the company’s stock.

Institutional Trading of Oppenheimer

Several large investors have recently bought and sold shares of OPY. Vanguard Group Inc. raised its position in shares of Oppenheimer by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 284,885 shares of the financial services provider’s stock worth $11,373,000 after acquiring an additional 12,525 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Oppenheimer in the first quarter worth $1,293,000. Victory Capital Management Inc. bought a new position in Oppenheimer in the second quarter worth $1,197,000. TCW Group Inc. bought a new position in Oppenheimer in the second quarter worth $2,396,000. Finally, Acadian Asset Management LLC lifted its position in Oppenheimer by 74.8% during the second quarter. Acadian Asset Management LLC now owns 24,387 shares of the financial services provider’s stock valued at $1,167,000 after buying an additional 10,433 shares during the period. 32.26% of the stock is owned by institutional investors.

Oppenheimer Company Profile

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.