Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY) saw unusually-strong trading volume on Monday . Approximately 36,236 shares were traded during mid-day trading, a decline of 52% from the previous session’s volume of 75,521 shares.The stock last traded at $108.8320 and had previously closed at $109.13.

Analyst Ratings Changes

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

Oppenheimer Stock Performance

The business has a 50-day moving average price of $103.70 and a 200 day moving average price of $94.64. The stock has a market capitalization of $1.18 billion, a P/E ratio of 13.16 and a beta of 1.07.

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

Oppenheimer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, May 15th. This is a boost from Oppenheimer’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. Oppenheimer’s dividend payout ratio is 9.54%.

Hedge Funds Weigh In On Oppenheimer

Several large investors have recently modified their holdings of OPY. Millennium Management LLC increased its stake in Oppenheimer by 56.6% during the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock valued at $8,294,000 after purchasing an additional 41,485 shares in the last quarter. State Street Corp lifted its stake in shares of Oppenheimer by 109.6% in the fourth quarter. State Street Corp now owns 67,421 shares of the financial services provider’s stock worth $4,941,000 after buying an additional 35,250 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Oppenheimer during the second quarter valued at approximately $2,016,000. Algert Global LLC grew its holdings in shares of Oppenheimer by 726.5% during the third quarter. Algert Global LLC now owns 33,779 shares of the financial services provider’s stock valued at $2,497,000 after buying an additional 29,692 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Oppenheimer by 146.4% during the second quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock valued at $2,949,000 after acquiring an additional 26,643 shares in the last quarter. 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.