Oppenheimer (NYSE:OPY) Sees Large Volume Increase – What’s Next?

Oppenheimer Holdings, Inc. (NYSE:OPY) shares saw strong trading volume on Monday . Approximately 51,554 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 81,102 shares.The stock last traded at $112.6280 and had previously closed at $111.64.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OPY shares. Weiss Ratings raised Oppenheimer from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Wall Street Zen raised Oppenheimer from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Oppenheimer Stock Performance

The stock has a 50 day moving average price of $109.05 and a two-hundred day moving average price of $98.42. The company has a market capitalization of $1.21 billion, a PE ratio of 12.77 and a beta of 1.09.

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

Oppenheimer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Oppenheimer’s payout ratio is presently 9.03%.

Institutional Trading of Oppenheimer

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its holdings in Oppenheimer by 56.6% during the fourth 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 during the last quarter. State Street Corp grew its stake in Oppenheimer by 109.6% in the 4th quarter. State Street Corp now owns 67,421 shares of the financial services provider’s stock valued at $4,941,000 after buying an additional 35,250 shares during the last quarter. Marshall Wace LLP bought a new position in Oppenheimer in the 2nd quarter worth $2,016,000. Algert Global LLC lifted its position in Oppenheimer by 726.5% during the 3rd quarter. Algert Global LLC now owns 33,779 shares of the financial services provider’s stock worth $2,497,000 after acquiring an additional 29,692 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in 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 during the period. 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.