Oppenheimer (NYSE:OPY) Hits New 1-Year High – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY) hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $86.69 and last traded at $84.1950, with a volume of 93251 shares. The stock had previously closed at $76.21.

Analysts Set New Price Targets

Several equities research analysts have weighed in on OPY shares. Wall Street Zen lowered Oppenheimer from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Cantor Fitzgerald cut shares of Oppenheimer to a “buy” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Oppenheimer in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Oppenheimer Trading Up 10.5%

The stock’s 50-day moving average is $73.65 and its 200-day moving average is $72.18. The stock has a market cap of $885.82 million, a P/E ratio of 11.30 and a beta of 1.17.

Oppenheimer (NYSE:OPY) last released its quarterly earnings results on Friday, January 30th. The financial services provider reported $6.51 EPS for the quarter. Oppenheimer had a net margin of 5.50% and a return on equity of 9.58%.

Oppenheimer Dividend Announcement

The company also recently declared a special dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 26th. Oppenheimer’s dividend payout ratio (DPR) is presently 9.66%.

Institutional Trading of Oppenheimer

Several institutional investors have recently modified their holdings of OPY. American Century Companies Inc. boosted its holdings in Oppenheimer by 12.2% during the second quarter. American Century Companies Inc. now owns 255,066 shares of the financial services provider’s stock worth $16,776,000 after buying an additional 27,677 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Oppenheimer in the second quarter valued at $648,000. AlphaQuest LLC acquired a new stake in shares of Oppenheimer during the 2nd quarter valued at $223,000. Inspire Investing LLC boosted its stake in shares of Oppenheimer by 2.5% during the 2nd quarter. Inspire Investing LLC now owns 5,965 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 145 shares in the last quarter. Finally, Metis Global Partners LLC acquired a new position in shares of Oppenheimer in the 3rd quarter worth $207,000. Institutional investors and hedge funds 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.