Oppenheimer (NYSE:OPY) Sees Strong Trading Volume – Time to Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) saw an uptick in trading volume on Wednesday . 67,268 shares changed hands during trading, a decline of 19% from the previous session’s volume of 83,013 shares.The stock last traded at $118.38 and had previously closed at $117.17.

Analysts Set New Price Targets

A number of research firms have recently commented on OPY. Weiss Ratings upgraded Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Wall Street Zen raised Oppenheimer from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Oppenheimer Trading Down 1.5%

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 12.66 and a beta of 1.09. The stock’s 50 day moving average is $111.39 and its two-hundred day moving average is $100.28.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings data on Friday, July 31st. The financial services provider reported $3.98 EPS for the quarter. Oppenheimer had a net margin of 5.72% and a return on equity of 19.51%. The company had revenue of $454.88 million for the quarter.

Oppenheimer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 14th. Oppenheimer’s payout ratio is 9.03%.

Institutional Trading of Oppenheimer

Hedge funds have recently added to or reduced their stakes in the stock. Arax Advisory Partners increased 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 valued at $35,000 after purchasing an additional 477 shares during the period. Torren Management LLC purchased a new position in Oppenheimer in the 4th quarter valued at $38,000. Barclays PLC purchased a new position in Oppenheimer in the 4th quarter valued at $40,000. Clearstead Advisors LLC increased its stake in Oppenheimer by 193.9% in the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after buying an additional 415 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in Oppenheimer in the 2nd quarter valued at $49,000. 32.26% of the stock is owned by institutional investors and hedge funds.

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.