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

Key Points

• Oppenheimer shares saw unusually strong trading volume on Monday, with 36,236 shares changing hands, though that was down 52% from the prior session. The stock last traded at $108.83, slightly below its previous close of $109.13.
• Analyst sentiment has softened recently, with Wall Street Zen and Weiss Ratings both downgrading the stock to hold ratings. MarketBeat still shows a consensus rating of Moderate Buy.
• The company recently raised its quarterly dividend to $0.20 per share from $0.18, equal to a $0.80 annualized payout and a 0.7% yield. Oppenheimer also reported quarterly EPS of $4.21 on revenue of $445.1 million in its latest earnings release.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) shares saw unusually-strong trading volume on Monday . 36,236 shares traded hands during trading, a decline of 52% from the previous session's volume of 75,521 shares.The stock last traded at $108.8320 and had previously closed at $109.13.

Analysts Set New Price Targets

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

Oppenheimer Price Performance

The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 13.07 and a beta of 1.07. The business's 50-day simple moving average is $103.11 and its two-hundred day simple moving average is $94.12.

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

Oppenheimer Increases Dividend

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 15th. This is a positive change from Oppenheimer's previous quarterly dividend of $0.18. Oppenheimer's dividend payout ratio (DPR) is currently 9.54%.

Institutional Investors Weigh In On Oppenheimer

A number of large investors have recently bought and sold shares of the stock. Arax Advisory Partners boosted its holdings in Oppenheimer by 47,700.0% in the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider's stock worth $35,000 after acquiring an additional 477 shares in the last quarter. Torren Management LLC bought a new position in shares of Oppenheimer in the 4th quarter worth $38,000. Barclays PLC acquired a new stake in Oppenheimer in the 4th quarter valued at $40,000. Clearstead Advisors LLC grew its position in Oppenheimer by 193.9% in the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 415 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in Oppenheimer during the 2nd quarter valued at $49,000. 32.26% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.