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

Key Points

• Oppenheimer Holdings, Inc. shares have recently crossed above their 200-day moving average, indicating potential bullish momentum, with the stock trading at $71.58 and a 200-day average of $66.28.
• Analysts have a consensus rating of "Buy" for Oppenheimer, with notable upgrades, including a shift to "strong-buy" from "hold" by Wall Street Zen.
• The company has declared a quarterly dividend of $0.18 per share, reflecting a yield of 1.0%, and has a low dividend payout ratio of 9.34%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $66.28 and traded as high as $71.74. Oppenheimer shares last traded at $71.58, with a volume of 52,082 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Oppenheimer in a research note on Saturday, September 27th. Wall Street Zen raised shares of Oppenheimer from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 10th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy".

Oppenheimer Stock Performance

The company's 50-day moving average is $73.73 and its 200-day moving average is $66.28. The firm has a market cap of $753.02 million, a price-to-earnings ratio of 9.28 and a beta of 1.18.

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

Oppenheimer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, August 15th. Oppenheimer's dividend payout ratio (DPR) is presently 9.34%.

Insider Buying and Selling at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 2,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $73.81, for a total transaction 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. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 34.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Boston Partners grew its holdings in 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 purchasing an additional 58,735 shares during the period. Royce & Associates LP grew its holdings in shares of Oppenheimer by 114.8% in the 1st quarter. Royce & Associates LP now owns 80,551 shares of the financial services provider's stock valued at $4,803,000 after buying an additional 43,050 shares during the period. Invesco Ltd. increased its position in shares of Oppenheimer by 864.7% in the 1st quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock valued at $2,480,000 after buying an additional 37,284 shares in the last quarter. American Century Companies Inc. raised its stake in Oppenheimer by 17.2% during the 1st quarter. American Century Companies Inc. now owns 227,389 shares of the financial services provider's stock worth $13,559,000 after buying an additional 33,433 shares during the period. Finally, Marshall Wace LLP bought a new position in Oppenheimer during the second quarter worth about $2,016,000. Institutional investors own 32.26% of the company's stock.

Oppenheimer Company Profile

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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