Oppenheimer (NYSE:OPY) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $104.45 and traded as high as $120.53. Oppenheimer shares last traded at $112.9460, with a volume of 179,217 shares.

Analyst Upgrades and Downgrades

Several research firms have commented on OPY. Weiss Ratings raised Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Oppenheimer from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Oppenheimer Stock Performance

The firm has a fifty day simple moving average of $115.61 and a 200-day simple moving average of $104.65. The company has a market capitalization of $1.23 billion, a PE ratio of 13.01 and a beta of 1.10.

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

Oppenheimer Announces Dividend

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

Institutional Trading of Oppenheimer

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC bought a new position in shares of Oppenheimer in the 2nd quarter worth about $207,000. Engineers Gate Manager LP grew its stake in Oppenheimer by 208.5% during the 2nd quarter. Engineers Gate Manager LP now owns 10,026 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 6,776 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Oppenheimer in the 2nd quarter valued at about $408,000. Empowered Funds LLC grew its holdings in Oppenheimer by 48.6% in the 1st quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider’s stock worth $4,109,000 after buying an additional 15,073 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Oppenheimer during the 1st quarter valued at about $1,590,000. Institutional investors own 32.26% of the company’s stock.

About Oppenheimer

Oppenheimer Holdings Inc (NYSE: OPY) is a diversified financial services company and the parent of Oppenheimer & Co Inc, a full-service investment banking and wealth management firm headquartered in New York. The company serves corporations, institutional investors, public entities, high-net-worth individuals and other clients primarily through operations in the United States.

Its principal businesses include investment banking, institutional and retail brokerage, equity and fixed-income research, asset management, and financial planning.