Oppenheimer (NYSE:OPY) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Oppenheimer (NYSE:OPY) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating. According to MarketBeat.com, Oppenheimer presently has a consensus rating of “Buy”.

Oppenheimer Price Performance

OPY stock opened at $83.50 on Friday. The company’s 50-day moving average is $113.21 and its 200-day moving average is $102.34. The stock has a market capitalization of $894.17 million, a PE ratio of 11.24 and a beta of 1.10. Oppenheimer has a 1 year low of $63.81 and a 1 year high of $125.88.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings results on Friday, October 30th. The financial services provider reported $1.81 earnings per share for the quarter. The business had revenue of $382.00 million for the quarter. Oppenheimer had a return on equity of 19.51% and a net margin of 5.72%.

Oppenheimer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 13th. Oppenheimer’s payout ratio is currently 10.77%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC increased its stake in Oppenheimer by 2.7% in the 1st quarter. DGS Capital Management LLC now owns 3,681 shares of the financial services provider’s stock valued at $328,000 after buying an additional 97 shares during the last quarter. Signaturefd LLC lifted its position in shares of Oppenheimer by 103.0% during the 3rd quarter. Signaturefd LLC now owns 603 shares of the financial services provider’s stock worth $71,000 after buying an additional 306 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Oppenheimer by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 22,800 shares of the financial services provider’s stock worth $2,034,000 after buying an additional 400 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Oppenheimer by 138.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,076 shares of the financial services provider’s stock worth $127,000 after buying an additional 625 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Oppenheimer by 9.9% in the 1st quarter. Bank of New York Mellon Corp now owns 18,886 shares of the financial services provider’s stock worth $1,684,000 after buying an additional 1,701 shares during the last quarter. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Oppenheimer Company Profile

Oppenheimer Holdings Inc is a diversified financial services company that operates primarily through its subsidiaries, including Oppenheimer & Co Inc and Oppenheimer Asset Management Inc The company provides investment banking, securities brokerage, wealth management and asset management services to individual investors, businesses, institutional clients and government entities.

Its investment banking activities include public and private securities offerings, mergers and acquisitions advisory services, financial restructuring and municipal finance.