Oppenheimer (NYSE:OPY) Announces Quarterly Earnings Results

Key Points

• Oppenheimer reported earnings of $1.91 per share for the quarter, with a net margin of 5.26% and a return on equity of 9.03%.
• The company announced a quarterly dividend of $0.18, representing a 1.0% yield, to be paid on August 29th.
• Director Paul M. Friedman sold 3,500 shares of Oppenheimer at an average price of $63.32, resulting in a 14.58% decrease in his ownership.

Oppenheimer (NYSE:OPY - Get Free Report) posted its earnings results on Friday. The financial services provider reported $1.91 EPS for the quarter, Zacks reports. Oppenheimer had a return on equity of 10.26% and a net margin of 5.88%. The company had revenue of $373.18 million for the quarter.

Oppenheimer Stock Performance

OPY traded down $0.93 during mid-day trading on Tuesday, reaching $73.59. The stock had a trading volume of 59,585 shares, compared to its average volume of 43,209. The stock has a market capitalization of $774.17 million, a P/E ratio of 9.54 and a beta of 1.24. Oppenheimer has a 52 week low of $47.39 and a 52 week high of $77.83. The firm's fifty day simple moving average is $67.10 and its two-hundred day simple moving average is $63.81.

Oppenheimer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. Oppenheimer's dividend payout ratio (DPR) is currently 9.34%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Oppenheimer from a "buy" rating to a "hold" rating in a research note on Saturday.

Insider Buying and Selling at Oppenheimer

In related news, Director Paul M. Friedman sold 3,500 shares of Oppenheimer stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $63.32, for a total value of $221,620.00. Following the sale, the director owned 20,500 shares of the company's stock, valued at approximately $1,298,060. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Caxton Associates LLP purchased a new stake in Oppenheimer during the first quarter valued at about $206,000. Goldman Sachs Group Inc. grew its stake in Oppenheimer by 39.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider's stock worth $486,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Oppenheimer by 5.3% during the first quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider's stock valued at $2,167,000 after acquiring an additional 1,836 shares during the last quarter. 32.26% of the stock is currently owned by institutional investors.

Oppenheimer Company Profile

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.