Oppenheimer (NYSE:OPY) Reaches New 12-Month High – What’s Next?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) reached a new 52-week high during trading on Thursday . The company traded as high as $124.38 and last traded at $123.69, with a volume of 86378 shares. The stock had previously closed at $117.36.

Analysts Set New Price Targets

OPY has been the topic of several recent analyst reports. Wall Street Zen upgraded Oppenheimer from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Oppenheimer Price Performance

The stock’s 50-day moving average price is $113.20 and its 200 day moving average price is $102.05. The firm has a market capitalization of $1.34 billion, a PE ratio of 14.07 and a beta of 1.10.

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

Oppenheimer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 14th. Oppenheimer’s dividend payout ratio is currently 9.03%.

Hedge Funds Weigh In On Oppenheimer

Several institutional investors have recently made changes to their positions in the company. Arax Advisory Partners raised 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 acquiring an additional 477 shares in the last quarter. Barclays PLC bought a new position in Oppenheimer during the 4th quarter worth about $40,000. Clearstead Advisors LLC increased its position in Oppenheimer by 193.9% during the 4th 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 period. Tower Research Capital LLC TRC bought a new stake in shares of Oppenheimer in the 2nd quarter valued at about $49,000. Finally, McIlrath & Eck LLC purchased a new stake in Oppenheimer during the fourth quarter worth $80,000. Hedge funds and other 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.