Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – Time to Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) shares saw unusually-high trading volume on Monday . 67,138 shares changed hands 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

A number of brokerages recently commented on OPY. Wall Street Zen cut 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 research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Oppenheimer Price Performance

The firm’s 50-day moving average is $101.39 and its 200 day moving average is $91.88. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 13.61 and a beta of 1.07.

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

Oppenheimer Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Arax Advisory Partners grew 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 acquiring an additional 477 shares in the last quarter. Torren Management LLC bought a new position in Oppenheimer during the fourth quarter worth $38,000. Barclays PLC acquired a new position in Oppenheimer in the fourth quarter worth $40,000. Clearstead Advisors LLC increased its stake in Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 415 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Oppenheimer during the second quarter valued at $49,000. Institutional investors and hedge funds 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.