Oppenheimer (NYSE:OPY) Reaches New 12-Month High – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $123.24 and last traded at $119.2350, with a volume of 16885 shares traded. The stock had previously closed at $116.18.

Analyst Ratings Changes

OPY has been the subject of several research reports. Weiss Ratings cut shares of Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Oppenheimer from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Oppenheimer has a consensus rating of “Moderate Buy”.

Oppenheimer Price Performance

The firm has a market capitalization of $1.28 billion, a P/E ratio of 14.23 and a beta of 1.07. The stock’s 50 day moving average is $102.49 and its two-hundred day moving average is $93.60.

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

Oppenheimer Increases Dividend

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

Institutional Investors Weigh In On Oppenheimer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPY. Dimensional Fund Advisors LP boosted its holdings in Oppenheimer by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 497,033 shares of the financial services provider’s stock worth $44,329,000 after buying an additional 7,384 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Oppenheimer by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 426,033 shares of the financial services provider’s stock worth $31,488,000 after buying an additional 10,345 shares during the period. Millennium Management LLC increased its stake in shares of Oppenheimer by 56.6% in the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock valued at $8,294,000 after acquiring an additional 41,485 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Oppenheimer by 21.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,906 shares of the financial services provider’s stock valued at $8,017,000 after acquiring an additional 19,558 shares during the last quarter. Finally, Boston Partners raised its position in shares of Oppenheimer by 9.2% in the 4th quarter. Boston Partners now owns 86,196 shares of the financial services provider’s stock valued at $6,231,000 after acquiring an additional 7,255 shares during the period. 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.