Oppenheimer (NYSE:OPY) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Oppenheimer shares moved above their 200-day moving average of $101.03, reaching $116.35 and closing near $115.59.
• Analyst sentiment is positive: two analysts rate the stock a Buy, and recent research firms upgraded their views. Oppenheimer recently reported quarterly EPS of $3.98 on revenue of $454.88 million.
• The company declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 0.7% yield; institutional investors own 32.26% of outstanding shares.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $101.03 and traded as high as $116.35. Oppenheimer shares last traded at $115.59, with a volume of 83,986 shares.

Wall Street Analysts Forecast Growth

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

Oppenheimer Stock Performance

The company has a market cap of $1.24 billion, a price-to-earnings ratio of 13.05 and a beta of 1.09. The stock's fifty day moving average is $112.17 and its two-hundred day moving average is $101.03.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The financial services provider reported $3.98 EPS for the quarter. The firm 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 Announces Dividend

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

Hedge Funds Weigh In On Oppenheimer

Several hedge funds have recently modified their holdings of OPY. Goldman Sachs Group Inc. increased its position in shares of Oppenheimer by 39.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider's stock valued at $486,000 after acquiring an additional 2,296 shares during the last quarter. Caxton Associates LLP bought a new stake in Oppenheimer during the first quarter worth $206,000. Empowered Funds LLC boosted its position in Oppenheimer by 5.3% in the first quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider's stock worth $2,167,000 after purchasing an additional 1,836 shares during the last quarter. Geode Capital Management LLC boosted its position in Oppenheimer by 0.3% in the second quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider's stock worth $4,467,000 after purchasing an additional 214 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Oppenheimer by 146.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider's stock valued at $2,949,000 after purchasing an additional 26,643 shares during the period. 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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