Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – Time to Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) shares saw an uptick in trading volume on Friday . Approximately 77,717 shares were traded during mid-day trading, an increase of 12% from the previous session’s volume of 69,381 shares.The stock last traded at $102.31 and had previously closed at $104.84.

Analyst Upgrades and Downgrades

OPY has been the topic of several research analyst reports. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Oppenheimer has a consensus rating of “Moderate Buy”.

Oppenheimer Stock Up 0.0%

The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.50 and a beta of 1.10. The firm’s 50 day moving average is $101.88 and its 200 day moving average is $89.77.

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

Oppenheimer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 15th. Oppenheimer’s payout ratio is presently 9.54%.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors have recently bought and sold shares of OPY. American Century Companies Inc. raised its holdings in Oppenheimer by 17.3% during the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock worth $22,115,000 after buying an additional 44,145 shares during the period. Millennium Management LLC boosted its holdings in shares of Oppenheimer by 56.6% in the fourth quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock worth $8,294,000 after buying an additional 41,485 shares during the period. State Street Corp increased its position 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 acquiring an additional 35,250 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Oppenheimer during the second quarter valued at approximately $2,016,000. Finally, Algert Global LLC raised 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 acquiring an additional 29,692 shares during the period. Hedge funds and other institutional investors own 32.26% of the company’s stock.

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.