Oppenheimer (NYSE:OPY) Upgraded at StockNews.com

StockNews.com upgraded shares of Oppenheimer (NYSE:OPY) from a buy rating to a strong-buy rating in a report published on Monday morning.

Oppenheimer Trading Up 1.2 %

Shares of OPY opened at $40.53 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.26 and a quick ratio of 0.87. The firm has a market capitalization of $423.82 million, a price-to-earnings ratio of 10.92 and a beta of 1.15. The company has a 50-day moving average of $38.75 and a 200 day moving average of $38.82. Oppenheimer has a 1-year low of $32.82 and a 1-year high of $42.41.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.37 EPS for the quarter. The business had revenue of $353.14 million during the quarter. Oppenheimer had a net margin of 3.25% and a return on equity of 5.90%.

Oppenheimer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, May 9th. Oppenheimer’s dividend payout ratio is currently 16.17%.

Institutional Investors Weigh In On Oppenheimer

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. increased its position in shares of Oppenheimer by 2,291.1% during the third quarter. Citigroup Inc. now owns 1,076 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,031 shares in the last quarter. Beverly Hills Private Wealth LLC purchased a new stake in Oppenheimer in the fourth quarter valued at about $206,000. Barclays PLC boosted its holdings in Oppenheimer by 1,758.9% in the third quarter. Barclays PLC now owns 5,967 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 5,646 shares in the last quarter. Watershed Asset Management L.L.C. purchased a new stake in shares of Oppenheimer during the fourth quarter worth about $277,000. Finally, Quest Partners LLC purchased a new stake in shares of Oppenheimer during the fourth quarter worth about $360,000. Hedge funds and other institutional investors own 32.26% of the company’s stock.

About Oppenheimer

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.