Oppenheimer (NYSE:OPY) Reaches New 1-Year High - Still a Buy?

Key Points

• Oppenheimer shares hit a new 52-week high of $107 and currently carry a consensus analyst rating of Buy, with some firms upgrading coverage to strong-buy.
• The stock trades at a low price-to-earnings ratio of 8.24; the firm reported quarterly EPS of $6.51, revenue of $472.6M and a return on equity of 16.1%, and pays a modest annualized dividend of $0.72 (yield ~0.7%).
• Insider activity shows a notable sale—Dennis P. McNamara sold 4,673 shares (reducing his position ~18.8%)—though corporate insiders still own about 34.9% of the stock.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $107.00 and last traded at $106.61, with a volume of 22673 shares trading hands. The stock had previously closed at $105.11.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Oppenheimer in a report on Thursday, January 22nd. Cantor Fitzgerald lowered shares of Oppenheimer to a "buy" rating in a report on Wednesday, January 7th. Finally, Wall Street Zen raised shares of Oppenheimer from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy".

Oppenheimer Stock Performance

The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 8.24 and a beta of 1.14. The stock's fifty day moving average is $88.58 and its two-hundred day moving average is $77.57.

Oppenheimer (NYSE:OPY - Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The financial services provider reported $6.51 earnings per share for the quarter. The company had revenue of $472.63 million during the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%.

Oppenheimer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Oppenheimer's dividend payout ratio (DPR) is currently 5.52%.

Insiders Place Their Bets

In other Oppenheimer news, insider Dennis P. Mcnamara sold 4,673 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $90.67, for a total transaction of $423,700.91. Following the completion of the transaction, the insider directly owned 20,177 shares of the company's stock, valued at $1,829,448.59. This trade represents a 18.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 34.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OPY. State of Alaska Department of Revenue acquired a new position in Oppenheimer during the 3rd quarter worth $31,000. Arax Advisory Partners lifted its position in shares of Oppenheimer by 47,700.0% in the 4th quarter. Arax Advisory Partners now owns 478 shares of the financial services provider's stock worth $35,000 after buying an additional 477 shares during the last quarter. Torren Management LLC bought a new position in shares of Oppenheimer in the 4th quarter worth about $38,000. Barclays PLC bought a new position in shares of Oppenheimer in the 4th quarter worth about $40,000. Finally, Clearstead Advisors LLC lifted its position in shares of Oppenheimer by 193.9% in the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider's stock worth $45,000 after buying an additional 415 shares during the last quarter. 32.26% of the stock is owned by institutional investors and hedge funds.

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.

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