Oppenheimer (NYSE:OPY) Sees Large Volume Increase – Should You Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) saw strong trading volume on Tuesday . 49,107 shares traded hands during mid-day trading, a decline of 24% from the previous session’s volume of 64,749 shares.The stock last traded at $107.7650 and had previously closed at $107.05.

Wall Street Analyst Weigh In

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

Oppenheimer Price Performance

The company has a market cap of $1.15 billion, a PE ratio of 12.80 and a beta of 1.10. The business has a 50-day moving average of $101.43 and a 200 day moving average of $88.07.

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

Oppenheimer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors 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 yield of 0.7%. This is a boost from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. Oppenheimer’s dividend payout ratio (DPR) is currently 9.54%.

Institutional Trading of Oppenheimer

A number of hedge funds have recently bought and sold shares of OPY. Arax Advisory Partners increased its position in Oppenheimer by 47,700.0% during the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 477 shares during the last quarter. Torren Management LLC purchased a new stake in Oppenheimer during the fourth quarter valued at $38,000. Barclays PLC purchased a new stake in Oppenheimer during the fourth quarter valued at $40,000. Clearstead Advisors LLC grew its holdings in Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 415 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in Oppenheimer during the second quarter valued at about $49,000. 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.