Oppenheimer (NYSE:OPY) Sets New 1-Year High - Here's Why

Key Points

• Oppenheimer's stock reached a new 52-week high at $78.67 during trading, reflecting an increase from its previous close at $76.65.
• Analysts upgraded Oppenheimer from a "hold" rating to a "strong-buy" rating, indicating increasing confidence in the company's prospects.
• The recent quarterly earnings report showed an EPS of $1.91 with a net margin of 5.88% and a revenue of $373.18 million, contributing to a market cap of $829.29 million.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $78.67 and last traded at $78.35, with a volume of 10536 shares changing hands. The stock had previously closed at $76.65.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Oppenheimer from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 10th.

Oppenheimer Price Performance

The company's 50-day moving average price is $72.87 and its two-hundred day moving average price is $65.29. The company has a market capitalization of $826.14 million, a price-to-earnings ratio of 10.19 and a beta of 1.21.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its earnings results on Friday, August 1st. The financial services provider reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $373.18 million for the quarter. Oppenheimer had a net margin of 5.88% and a return on equity of 10.13%.

Oppenheimer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.72 annualized dividend and a yield of 0.9%. Oppenheimer's dividend payout ratio is currently 9.34%.

Insider Activity at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 2,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $73.81, for a total value of $147,620.00. Following the completion of the sale, the insider owned 21,766 shares in the company, valued at $1,606,548.46. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 34.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Oppenheimer

A number of large investors have recently added to or reduced their stakes in the stock. Boston Partners raised its position in shares of Oppenheimer by 457.7% during the first quarter. Boston Partners now owns 71,568 shares of the financial services provider's stock valued at $4,268,000 after buying an additional 58,735 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Oppenheimer by 114.8% during the first quarter. Royce & Associates LP now owns 80,551 shares of the financial services provider's stock valued at $4,803,000 after acquiring an additional 43,050 shares in the last quarter. Invesco Ltd. increased its holdings in Oppenheimer by 864.7% in the 1st quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock worth $2,480,000 after buying an additional 37,284 shares during the period. American Century Companies Inc. boosted its position in Oppenheimer by 17.2% in the 1st quarter. American Century Companies Inc. now owns 227,389 shares of the financial services provider's stock worth $13,559,000 after purchasing an additional 33,433 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Oppenheimer in the 2nd quarter valued at $2,016,000. Hedge funds and other institutional investors own 32.26% of the company's stock.

About Oppenheimer

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.