Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Oppenheimer shares rose to $120.62 as trading volume increased 29% to 109,350 shares from the prior session.
• Analysts remain bullish: Wall Street Zen and Weiss Ratings upgraded the stock, while the two analysts covering Oppenheimer maintain an average “Buy” rating.
• The company reported quarterly EPS of $3.98 on $454.88 million in revenue and paid a $0.20 quarterly dividend, equivalent to an annualized $0.80 payout and a 0.7% yield.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) shares saw an uptick in trading volume on Tuesday . 109,350 shares traded hands during trading, an increase of 29% from the previous session's volume of 84,828 shares.The stock last traded at $120.62 and had previously closed at $118.79.

Analyst Upgrades and Downgrades

OPY has been the topic of a number of research analyst reports. 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 upgraded shares of Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

Oppenheimer Price Performance

The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 13.43 and a beta of 1.09. The stock's 50 day simple moving average is $112.81 and its 200-day simple moving average is $101.60.

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

Oppenheimer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Oppenheimer's dividend payout ratio is presently 9.03%.

Institutional Trading of Oppenheimer

A number of institutional investors and hedge funds have recently made changes to their positions in OPY. Arax Advisory Partners increased its holdings in shares of Oppenheimer by 47,700.0% during the 4th quarter. Arax Advisory Partners now owns 478 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 477 shares during the last quarter. Barclays PLC bought a new stake in Oppenheimer during the fourth quarter worth approximately $40,000. Clearstead Advisors LLC boosted its position in Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider's stock worth $45,000 after purchasing an additional 415 shares during the period. Tower Research Capital LLC TRC acquired a new position in Oppenheimer during the second quarter valued at approximately $49,000. Finally, McIlrath & Eck LLC acquired a new position in Oppenheimer during the fourth quarter valued at approximately $80,000. 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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