Oppenheimer (NYSE:OPY) Sets New 12-Month High - Time to Buy?

Key Points

• Oppenheimer shares reached a new 52-week high of $123.73 and last traded at $121.89, above their 50-day and 200-day moving averages.
• Analyst sentiment is positive: two analysts rate the stock a Buy, giving Oppenheimer a consensus “Buy” rating.
• The company reported quarterly EPS of $3.98 on $454.88 million in revenue and declared a quarterly dividend of $0.20 per share, representing a 0.7% annualized yield.

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $123.73 and last traded at $121.89, with a volume of 40785 shares traded. The stock had previously closed at $120.00.

Wall Street Analyst Weigh In

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

Oppenheimer Price Performance

The firm has a fifty day moving average of $112.42 and a two-hundred day moving average of $101.23. The stock has a market capitalization of $1.30 billion, a P/E ratio of 13.73 and a beta of 1.09.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its earnings results on Friday, July 31st. The financial services provider reported $3.98 earnings per share (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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. Oppenheimer's dividend payout ratio (DPR) is currently 9.03%.

Hedge Funds Weigh In On Oppenheimer

Several institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Oppenheimer by 39.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider's stock worth $486,000 after buying an additional 2,296 shares during the period. Caxton Associates LLP purchased a new position in shares of Oppenheimer in the 1st quarter valued at $206,000. Empowered Funds LLC increased its holdings in shares of Oppenheimer by 5.3% in the 1st quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider's stock valued at $2,167,000 after acquiring an additional 1,836 shares during the period. Geode Capital Management LLC raised its position in shares of Oppenheimer by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider's stock worth $4,467,000 after acquiring an additional 214 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Oppenheimer by 146.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider's stock worth $2,949,000 after acquiring an additional 26,643 shares in the last quarter. 32.26% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source