Oppenheimer (NYSE:OPY) Sees Strong Trading Volume - Here's What Happened

Key Points

• Oppenheimer saw a 40% increase in mid-day trading to 76,430 shares and was trading up about 3%, last at $117.42 versus the prior close of $113.86.
• Wall Street sentiment is positive with a consensus "Buy", including a recent upgrade to "strong-buy" from Wall Street Zen and other analysts reiterating buy ratings.
• The firm reported EPS of $6.51 on $472.63 million in revenue last quarter, has a $1.26 billion market cap and P/E of 8.98, and pays a quarterly dividend of $0.18 (about a 0.6% yield).

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) saw an uptick in trading volume on Wednesday . 76,430 shares were traded during mid-day trading, an increase of 40% from the previous session's volume of 54,762 shares.The stock last traded at $117.4230 and had previously closed at $113.86.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Oppenheimer from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oppenheimer in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald downgraded shares of Oppenheimer to a "buy" rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy".

Oppenheimer Trading Up 3.0%

The stock's 50 day simple moving average is $91.68 and its 200 day simple moving average is $79.46. The stock has a market capitalization of $1.26 billion, a P/E ratio of 8.98 and a beta of 1.14.

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

Oppenheimer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, February 13th. Oppenheimer's dividend payout ratio (DPR) is presently 5.52%.

Insider Buying and Selling at Oppenheimer

In related news, insider Dennis P. Mcnamara sold 4,673 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $90.67, for a total value of $423,700.91. Following the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 34.86% of the stock is currently owned by company insiders.

Institutional Trading of Oppenheimer

Large investors have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Oppenheimer by 17.3% in the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider's stock worth $22,115,000 after acquiring an additional 44,145 shares during the period. JPMorgan Chase & Co. increased its stake in Oppenheimer by 54.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,438 shares of the financial services provider's stock valued at $5,132,000 after buying an additional 24,596 shares during the period. Royce & Associates LP increased its stake in Oppenheimer by 18.0% during the 3rd quarter. Royce & Associates LP now owns 112,404 shares of the financial services provider's stock valued at $8,308,000 after buying an additional 17,122 shares during the period. Penn Capital Management Company LLC acquired a new position in Oppenheimer during the 3rd quarter valued at about $640,000. Finally, Round Rock Advisors LLC increased its stake in Oppenheimer by 62.9% during the 4th quarter. Round Rock Advisors LLC now owns 14,539 shares of the financial services provider's stock valued at $1,051,000 after buying an additional 5,615 shares during the period. Institutional investors and hedge funds own 32.26% of the company's stock.

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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