Oppenheimer (NYSE:OPY) Issues Earnings Results

Oppenheimer (NYSE:OPY) issued its quarterly earnings results on Friday. The financial services provider reported $6.51 EPS for the quarter, Zacks reports. Oppenheimer had a net margin of 5.50% and a return on equity of 9.58%.

Oppenheimer Stock Performance

OPY traded up $6.23 during midday trading on Friday, hitting $82.44. The stock had a trading volume of 59,711 shares, compared to its average volume of 36,509. Oppenheimer has a 1 year low of $49.26 and a 1 year high of $86.69. The company has a market cap of $867.27 million, a P/E ratio of 11.07 and a beta of 1.17. The business has a fifty day moving average of $73.29 and a 200 day moving average of $72.06.

Oppenheimer Dividend Announcement

The company also recently declared a special dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 26th. Oppenheimer’s payout ratio is 9.66%.

Wall Street Analyst Weigh In

OPY has been the subject of several recent analyst reports. Cantor Fitzgerald downgraded shares of Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Oppenheimer from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Oppenheimer has a consensus rating of “Buy”.

Institutional Investors Weigh In On Oppenheimer

A number of large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Oppenheimer by 39.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider’s stock worth $486,000 after buying an additional 2,296 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Oppenheimer in the 1st quarter worth about $206,000. Empowered Funds LLC increased its stake in shares of Oppenheimer by 5.3% during the first quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider’s stock valued at $2,167,000 after purchasing an additional 1,836 shares in the last quarter. Geode Capital Management LLC increased its position in Oppenheimer by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock valued at $4,467,000 after buying an additional 214 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Oppenheimer by 146.4% during the second quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock valued at $2,949,000 after acquiring an additional 26,643 shares in the last quarter. Institutional investors 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.