Oppenheimer (NYSE:OPY) Sees Strong Trading Volume – What’s Next?

Oppenheimer Holdings, Inc. (NYSE:OPY) shares saw unusually-high trading volume on Wednesday . Approximately 91,846 shares were traded during trading, an increase of 50% from the previous session’s volume of 61,293 shares.The stock last traded at $93.00 and had previously closed at $95.09.

Analysts Set New Price Targets

OPY has been the subject of a number of recent analyst reports. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Oppenheimer has an average rating of “Moderate Buy”.

Oppenheimer Price Performance

The stock has a 50 day moving average price of $99.08 and a two-hundred day moving average price of $85.79. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 11.93 and a beta of 1.10.

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

Oppenheimer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.20 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Oppenheimer’s dividend payout ratio is 9.54%.

Institutional Trading of Oppenheimer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arax Advisory Partners increased its position in Oppenheimer by 47,700.0% in the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 477 shares during the period. Torren Management LLC acquired a new stake in Oppenheimer in the fourth quarter worth about $38,000. Barclays PLC acquired a new stake in Oppenheimer in the fourth quarter worth about $40,000. Clearstead Advisors LLC increased its position in Oppenheimer by 193.9% in the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 415 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in Oppenheimer during the second quarter worth about $49,000. 32.26% of the stock is currently 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.