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

Key Points

• Oppenheimer shares crossed above their 200-day moving average, reaching $112.76 before trading at $110.30. The stock’s 50-day and 200-day moving averages were $104.94 and $95.68, respectively.
• Analyst sentiment remains favorable but has weakened, with Wall Street Zen and Weiss Ratings downgrading the stock to “Hold.” MarketBeat lists an overall “Moderate Buy” rating based on one Buy and one Hold recommendation.
• Oppenheimer reported quarterly EPS of $4.21 on $445.1 million in revenue and raised its quarterly dividend to $0.20 from $0.18, implying an annualized payout of $0.80 and a 0.7% yield.

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $95.68 and traded as high as $112.76. Oppenheimer shares last traded at $110.30, with a volume of 116,162 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OPY shares. Wall Street Zen cut Oppenheimer from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings cut Oppenheimer from a "buy (b)" rating to a "hold (c+)" rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Oppenheimer currently has an average rating of "Moderate Buy".

Oppenheimer Stock Performance

The firm's 50-day moving average price is $104.94 and its two-hundred day moving average price is $95.68. The firm has a market cap of $1.18 billion, a PE ratio of 13.15 and a beta of 1.07.

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 firm had revenue of $445.10 million for the quarter.

Oppenheimer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.20 dividend. This is a boost from Oppenheimer's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, May 15th. Oppenheimer's payout ratio is currently 9.54%.

Institutional Trading of Oppenheimer

A number of hedge funds and other institutional investors have recently made changes to their positions in OPY. Goldman Sachs Group Inc. lifted its holdings in shares of Oppenheimer by 39.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 2,296 shares during the last quarter. Caxton Associates LLP purchased a new position in Oppenheimer during the 1st quarter worth approximately $206,000. Empowered Funds LLC grew its stake in Oppenheimer by 5.3% during the 1st quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider's stock worth $2,167,000 after buying an additional 1,836 shares during the last quarter. Geode Capital Management LLC increased its position 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 during the period. Finally, JPMorgan Chase & Co. increased its position in Oppenheimer by 146.4% during the second quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider's stock worth $2,949,000 after buying an additional 26,643 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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