Oppenheimer (NYSE:OPY) Reaches New 52-Week High – Here’s What Happened

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) hit a new 52-week high during trading on Tuesday . The stock traded as high as $123.24 and last traded at $119.2350, with a volume of 16885 shares changing hands. The stock had previously closed at $116.18.

Wall Street Analyst Weigh In

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

Oppenheimer Price Performance

The stock’s 50 day moving average is $101.64 and its two-hundred day moving average is $93.00. The stock has a market capitalization of $1.27 billion, a PE ratio of 14.17 and a beta of 1.07.

Oppenheimer (NYSE:OPY) last issued its quarterly earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) 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 during the quarter.

Oppenheimer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 15th. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. Oppenheimer’s dividend payout ratio (DPR) is 9.54%.

Institutional Investors Weigh In On Oppenheimer

Several institutional investors have recently modified their holdings of OPY. Arax Advisory Partners grew its stake in shares of Oppenheimer by 47,700.0% during the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 477 shares in the last quarter. Torren Management LLC purchased a new stake in Oppenheimer during the 4th quarter worth about $38,000. Barclays PLC acquired a new position in shares of Oppenheimer during the 4th quarter worth about $40,000. Clearstead Advisors LLC increased its holdings in shares of Oppenheimer by 193.9% in the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 415 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Oppenheimer in the 2nd quarter valued at about $49,000. 32.26% of the stock is 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.