Oppenheimer (NYSE:OPY) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Oppenheimer Holdings, Inc. (NYSE:OPY) shares crossed above their 200-day moving average, trading as high as $77.47 and closing at $76.61.
• The company reported earnings of $1.91 per share with a quarterly revenue of $373.18 million and a net margin of 5.88%.
• Oppenheimer announced a quarterly dividend of $0.18, resulting in an annualized yield of 0.9%, with a low dividend payout ratio of 9.34%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $64.82 and traded as high as $77.47. Oppenheimer shares last traded at $76.61, with a volume of 29,696 shares trading hands.

Analyst Ratings Changes

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

Oppenheimer Stock Down 1.1%

The stock has a 50 day simple moving average of $71.69 and a 200 day simple moving average of $64.82. The stock has a market cap of $805.94 million, a price-to-earnings ratio of 9.94 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. Oppenheimer had a return on equity of 10.13% and a net margin of 5.88%.The company had revenue of $373.18 million for the quarter.

Oppenheimer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, August 15th. Oppenheimer's dividend payout ratio (DPR) is currently 9.34%.

Insider Activity

In related news, insider Dennis P. Mcnamara sold 2,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $73.81, for a total value of $147,620.00. Following the transaction, the insider directly owned 21,766 shares in the company, valued at $1,606,548.46. This trade represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 34.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oppenheimer

A number of large investors have recently modified their holdings of the company. Inspire Investing LLC lifted its holdings in shares of Oppenheimer by 2.5% in the 2nd quarter. Inspire Investing LLC now owns 5,965 shares of the financial services provider's stock worth $392,000 after purchasing an additional 145 shares in the last quarter. Geode Capital Management LLC grew its holdings in Oppenheimer by 0.3% during the second quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider's stock worth $4,467,000 after buying an additional 214 shares in the last quarter. State of Wyoming grew its holdings in Oppenheimer by 10.9% during the fourth quarter. State of Wyoming now owns 4,403 shares of the financial services provider's stock worth $282,000 after buying an additional 431 shares in the last quarter. Jane Street Group LLC grew its holdings in Oppenheimer by 10.7% during the fourth quarter. Jane Street Group LLC now owns 6,900 shares of the financial services provider's stock worth $442,000 after buying an additional 666 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Oppenheimer during the second quarter worth $49,000. 32.26% of the stock is currently owned by institutional investors.

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.

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