Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Oppenheimer shares traded about 67,268 shares, down 19% from the prior session, while rising to $118.38 from a $117.17 close.
• Analysts remain positive, with both tracked analysts rating OPY a Buy. The company reported quarterly EPS of $3.98 on $454.88 million in revenue, with a 19.51% return on equity.
• Oppenheimer declared a quarterly dividend of $0.20 per share, equal to $0.80 annually and a 0.7% yield; institutional investors own 32.26% of the stock.

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) saw strong trading volume on Wednesday . Approximately 67,268 shares were traded during trading, a decline of 19% from the previous session's volume of 83,013 shares.The stock last traded at $118.38 and had previously closed at $117.17.

Analysts Set New Price Targets

Several research firms recently weighed in on OPY. Wall Street Zen upgraded shares of Oppenheimer from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Oppenheimer Trading Down 0.4%

The business has a fifty day moving average price of $110.89 and a 200-day moving average price of $99.81. The stock has a market capitalization of $1.25 billion, a PE ratio of 13.16 and a beta of 1.09.

Oppenheimer (NYSE:OPY - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The financial services provider reported $3.98 earnings per share for the quarter. The company had revenue of $454.88 million for the quarter. Oppenheimer had a return on equity of 19.51% and a net margin of 5.72%.

Oppenheimer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. Oppenheimer's dividend payout ratio (DPR) is 9.03%.

Institutional Investors Weigh In On Oppenheimer

A number of institutional investors have recently made changes to their positions in OPY. Millennium Management LLC lifted its stake in shares of Oppenheimer by 56.6% in the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider's stock valued at $8,294,000 after acquiring an additional 41,485 shares during the last quarter. State Street Corp boosted its holdings in Oppenheimer by 109.6% during the 4th quarter. State Street Corp now owns 67,421 shares of the financial services provider's stock valued at $4,941,000 after acquiring an additional 35,250 shares during the period. Marshall Wace LLP bought a new position in Oppenheimer during the 2nd quarter worth approximately $2,016,000. Algert Global LLC grew its position in Oppenheimer by 726.5% during the 3rd quarter. Algert Global LLC now owns 33,779 shares of the financial services provider's stock worth $2,497,000 after acquiring an additional 29,692 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Oppenheimer by 146.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider's stock worth $2,949,000 after purchasing an additional 26,643 shares during the period. Hedge funds and other institutional investors own 32.26% of the company's stock.

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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