Oppenheimer (NYSE:OPY) Hits New 52-Week High - Still a Buy?

Key Points

• Oppenheimer shares reached a new 52-week high of $125.88 and last traded near $123.22, giving the company a market capitalization of approximately $1.32 billion.
• Analyst sentiment is positive: two research analysts rate the stock Buy, while recent rating upgrades helped establish a consensus Buy recommendation.
• Oppenheimer reported quarterly earnings of $3.98 per share on $454.88 million in revenue and maintains a quarterly dividend of $0.20, or $0.80 annually, yielding about 0.6%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $125.88 and last traded at $123.2220, with a volume of 97508 shares. The stock had previously closed at $122.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Oppenheimer from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Oppenheimer Stock Up 0.3%

The business has a 50-day moving average price of $114.69 and a 200-day moving average price of $103.09. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 13.91 and a beta of 1.10.

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

Oppenheimer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 14th. Oppenheimer's dividend payout ratio (DPR) is presently 9.03%.

Institutional Investors Weigh In On Oppenheimer

Several hedge funds have recently made changes to their positions in OPY. Arax Advisory Partners boosted its stake in Oppenheimer by 47,700.0% in the 4th quarter. Arax Advisory Partners now owns 478 shares of the financial services provider's stock worth $35,000 after purchasing an additional 477 shares during the period. Barclays PLC acquired a new stake in Oppenheimer during the 4th quarter valued at $40,000. Clearstead Advisors LLC raised its stake in Oppenheimer by 193.9% during the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 415 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Oppenheimer in the second quarter valued at $49,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Oppenheimer in the second quarter valued at $112,000. Hedge funds and other institutional investors 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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