Oppenheimer (NYSE:OPY) Reaches New 52-Week High - Here's What Happened

Key Points

• Oppenheimer shares hit a new 52-week high on Tuesday, trading as high as $123.24 before closing at $119.24, up from the previous close of $116.18.
• Analysts have recently become more cautious, with Wall Street Zen and Weiss Ratings both downgrading the stock to Hold, though MarketBeat still shows an average rating of Moderate Buy.
• The company raised its quarterly dividend to $0.20 per share from $0.18, while its latest earnings showed $4.21 EPS on $445.1 million in revenue.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $123.24 and last traded at $119.2350, with a volume of 16885 shares. The stock had previously closed at $116.18.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on OPY shares. Wall Street Zen downgraded Oppenheimer from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Oppenheimer from a "buy (b)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Oppenheimer presently has an average rating of "Moderate Buy".

Oppenheimer Price Performance

The business has a 50 day simple moving average of $101.64 and a 200 day simple moving average of $93.00. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 14.17 and a beta of 1.07.

Oppenheimer (NYSE:OPY - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $4.21 EPS for the quarter. The business 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 announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.20 per share. This is a positive change from Oppenheimer's previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.7%. Oppenheimer's dividend payout ratio (DPR) is 9.54%.

Hedge Funds Weigh In On Oppenheimer

Several institutional investors have recently bought and sold shares of OPY. Dimensional Fund Advisors LP lifted its position in shares of Oppenheimer by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 497,033 shares of the financial services provider's stock worth $44,329,000 after purchasing an additional 7,384 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Oppenheimer by 2.5% in the third quarter. Vanguard Group Inc. now owns 426,033 shares of the financial services provider's stock valued at $31,488,000 after purchasing an additional 10,345 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Oppenheimer by 56.6% in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Oppenheimer by 21.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,906 shares of the financial services provider's stock worth $8,017,000 after buying an additional 19,558 shares during the period. Finally, Boston Partners increased its stake in Oppenheimer by 9.2% during the 4th quarter. Boston Partners now owns 86,196 shares of the financial services provider's stock worth $6,231,000 after buying an additional 7,255 shares during the period. 32.26% of the stock is owned by institutional investors and hedge funds.

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.

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