Oppenheimer (NYSE:OPY) Sees Large Volume Increase – Time to Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) shares saw unusually-strong trading volume on Tuesday . Approximately 109,350 shares traded hands during mid-day trading, an increase of 29% from the previous session’s volume of 84,828 shares.The stock last traded at $120.62 and had previously closed at $118.79.

Analyst Upgrades and Downgrades

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

Oppenheimer Price Performance

The company has a market cap of $1.26 billion, a price-to-earnings ratio of 13.27 and a beta of 1.10. The business’s 50-day simple moving average is $113.20 and its 200-day simple moving average is $102.05.

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

Oppenheimer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. Oppenheimer’s dividend payout ratio is presently 9.03%.

Institutional Investors Weigh In On Oppenheimer

Large investors have recently added to or reduced their stakes in the company. Arax Advisory Partners grew its position in shares of Oppenheimer by 47,700.0% during the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock worth $35,000 after buying an additional 477 shares in the last quarter. Barclays PLC bought a new position in shares of Oppenheimer during the fourth quarter valued at approximately $40,000. Clearstead Advisors LLC raised its position in shares of Oppenheimer by 193.9% during the 4th 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. Tower Research Capital LLC TRC bought a new stake in shares of Oppenheimer in the 2nd quarter worth approximately $49,000. Finally, McIlrath & Eck LLC bought a new stake in shares of Oppenheimer in the 4th quarter worth approximately $80,000. 32.26% of the stock is owned by institutional investors and hedge funds.

Oppenheimer Company Profile

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.