Oppenheimer (NYSE:OPY) Sees Large Volume Increase - Should You Buy?

Key Points

• Trading activity increased: Oppenheimer shares traded 87,164 shares, up 13% from the prior session, while closing nearly unchanged at approximately $110.01.
• Analyst sentiment is mixed: Weiss Ratings and Wall Street Zen both downgraded the stock to “Hold,” although MarketBeat’s overall rating remains “Moderate Buy” based on one Buy and one Hold rating.
• Fundamentals and shareholder returns remain notable: Oppenheimer reported $4.21 in quarterly EPS on $445.1 million in revenue and raised its quarterly dividend to $0.20 per share, while institutional investors own 32.26% of the stock.

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) saw unusually-high trading volume on Tuesday . 87,164 shares traded hands during trading, an increase of 13% from the previous session's volume of 77,048 shares.The stock last traded at $110.0050 and had previously closed at $110.02.

Wall Street Analysts Forecast Growth

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

Oppenheimer Stock Performance

The stock has a market capitalization of $1.18 billion, a P/E ratio of 13.13 and a beta of 1.07. The company has a fifty day simple moving average of $104.94 and a two-hundred day simple moving average of $95.68.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) for the quarter. The company had revenue of $445.10 million for the quarter. Oppenheimer had a net margin of 5.66% and a return on equity of 17.49%.

Oppenheimer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.7%. This is a boost from Oppenheimer's previous quarterly dividend of $0.18. Oppenheimer's dividend payout ratio (DPR) is presently 9.54%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in 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 during the last quarter. State Street Corp boosted its holdings in Oppenheimer by 109.6% during the fourth quarter. State Street Corp now owns 67,421 shares of the financial services provider's stock worth $4,941,000 after buying an additional 35,250 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Oppenheimer during the 2nd quarter worth about $2,016,000. Algert Global LLC increased its stake in shares of Oppenheimer by 726.5% in the 3rd quarter. Algert Global LLC now owns 33,779 shares of the financial services provider's stock valued at $2,497,000 after acquiring an additional 29,692 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Oppenheimer by 146.4% in the 2nd 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 last quarter. 32.26% of the stock is currently owned by institutional investors.

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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