Oppenheimer (NYSE:OPY) Reaches New 12-Month High - What's Next?

Key Points

• Oppenheimer shares reached a new 52-week high, trading as high as $124.38 after closing at $117.36 previously. The stock has a market capitalization of $1.34 billion and trades at a price-to-earnings ratio of 14.07.
• Recent analyst actions have been positive: Wall Street Zen upgraded the stock to “buy,” while Weiss Ratings raised its rating to “buy (b).” MarketBeat reports that the two analysts covering Oppenheimer maintain an average “Buy” rating.
• Oppenheimer reported quarterly EPS of $3.98 on revenue of $454.88 million, with a 19.51% return on equity and 5.72% net margin. The company also declared a quarterly dividend of $0.20, equal to an annualized $0.80 payout and a 0.6% yield.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as $124.38 and last traded at $123.69, with a volume of 86378 shares traded. The stock had previously closed at $117.36.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OPY. Wall Street Zen raised shares of Oppenheimer from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings raised Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Oppenheimer currently has an average rating of "Buy".

Oppenheimer Price Performance

The firm has a 50-day moving average of $113.20 and a 200-day moving average of $102.05. The stock has a market cap of $1.34 billion, a PE ratio of 14.07 and a beta of 1.10.

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

Oppenheimer Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, August 14th. Oppenheimer's payout ratio is currently 9.03%.

Institutional Trading of Oppenheimer

Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Oppenheimer during the first quarter valued at $1,590,000. Empowered Funds LLC lifted its position in Oppenheimer by 48.6% in the first quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider's stock worth $4,109,000 after buying an additional 15,073 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Oppenheimer by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 497,033 shares of the financial services provider's stock worth $44,329,000 after buying an additional 7,384 shares during the period. Sei Investments Co. boosted its stake in Oppenheimer by 57.9% during the first quarter. Sei Investments Co. now owns 12,532 shares of the financial services provider's stock worth $1,118,000 after buying an additional 4,593 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Oppenheimer by 9.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 72,035 shares of the financial services provider's stock valued at $6,425,000 after acquiring an additional 5,971 shares during the last quarter. 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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