Oppenheimer (NYSE:OPY) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $93.00 and traded as high as $116.52. Oppenheimer shares last traded at $116.3740, with a volume of 119,825 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OPY shares. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Oppenheimer Price Performance

The stock’s 50-day moving average is $102.02 and its two-hundred day moving average is $93.29. The company has a market cap of $1.28 billion, a P/E ratio of 14.23 and a beta of 1.07.

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

Oppenheimer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.20 dividend. 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 0.7%. The ex-dividend date of this dividend was Friday, May 15th. Oppenheimer’s dividend payout ratio is currently 9.54%.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of Oppenheimer by 54.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,438 shares of the financial services provider’s stock worth $5,132,000 after acquiring an additional 24,596 shares during the last quarter. Round Rock Advisors LLC increased its stake in shares of Oppenheimer by 62.9% in the 4th quarter. Round Rock Advisors LLC now owns 14,539 shares of the financial services provider’s stock worth $1,051,000 after purchasing an additional 5,615 shares in the last quarter. Penn Capital Management Company LLC bought a new position in Oppenheimer in the 3rd quarter worth $640,000. Nisa Investment Advisors LLC bought a new position in Oppenheimer in the 4th quarter worth $89,000. Finally, Centiva Capital LP purchased a new position in Oppenheimer during the third quarter valued at $233,000. 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.