Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw strong trading volume on Tuesday . 72,013 shares changed hands during trading, an increase of 16% from the previous session’s volume of 61,869 shares.The stock last traded at $100.9660 and had previously closed at $97.38.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Oppenheimer Stock Performance

The company has a market cap of $1.07 billion, a price-to-earnings ratio of 11.91 and a beta of 1.10. The stock’s fifty day moving average is $99.46 and its two-hundred day moving average is $86.26.

Oppenheimer (NYSE:OPY) last posted its earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share for the quarter. Oppenheimer had a net margin of 5.66% and a return on equity of 17.49%. The company had revenue of $445.10 million for the quarter.

Oppenheimer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.20 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. Oppenheimer’s dividend payout ratio (DPR) is presently 9.54%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Arax Advisory Partners grew its position 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 purchasing an additional 477 shares in the last quarter. Torren Management LLC purchased a new position in Oppenheimer during the fourth quarter worth about $38,000. Barclays PLC purchased a new position in Oppenheimer during the fourth quarter worth about $40,000. Clearstead Advisors LLC grew 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 buying an additional 415 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Oppenheimer during the second quarter worth about $49,000. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

Oppenheimer Company Profile

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.