Oppenheimer (NYSE:OPY) Announces 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) issued its earnings results on Friday. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, Zacks reports. Oppenheimer had a net margin of 5.26% and a return on equity of 9.03%.

Oppenheimer Trading Down 1.5%

OPY traded down $1.16 during trading on Friday, hitting $74.66. 7,592 shares of the company's stock traded hands, compared to its average volume of 42,596. The stock has a market capitalization of $785.74 million, a price-to-earnings ratio of 11.11 and a beta of 1.20. The company's 50 day simple moving average is $66.70 and its two-hundred day simple moving average is $63.75. Oppenheimer has a 12-month low of $47.39 and a 12-month high of $77.83.

Oppenheimer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. Oppenheimer's dividend payout ratio (DPR) is presently 10.71%.

Insider Buying and Selling at Oppenheimer

In other news, Director Paul M. Friedman sold 3,500 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $63.32, for a total transaction of $221,620.00. Following the transaction, the director directly owned 20,500 shares of the company's stock, valued at $1,298,060. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 34.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oppenheimer

A number of hedge funds have recently bought and sold shares of OPY. Caxton Associates LLP purchased a new stake in shares of Oppenheimer during the 1st quarter valued at about $206,000. Goldman Sachs Group Inc. raised its holdings in shares of Oppenheimer by 39.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 2,296 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Oppenheimer by 5.3% in the first quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider's stock worth $2,167,000 after purchasing an additional 1,836 shares during the last quarter. Hedge funds and other institutional investors own 32.26% of the company's stock.

About Oppenheimer

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.

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