Oppenheimer (NYSE:OPY) Sees Strong Trading Volume – Time to Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) shares saw an uptick in trading volume on Monday . Approximately 51,554 shares traded hands during trading, a decline of 36% from the previous session’s volume of 81,102 shares.The stock last traded at $112.6280 and had previously closed at $111.64.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. 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 “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Oppenheimer currently has a consensus rating of “Buy”.

Oppenheimer Trading Up 0.9%

The stock has a fifty day simple moving average of $108.35 and a 200-day simple moving average of $97.97. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 12.72 and a beta of 1.09.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings data on Friday, July 31st. The financial services provider reported $3.98 earnings per share for the quarter. Oppenheimer had a return on equity of 19.51% and a net margin of 5.72%.The company had revenue of $454.88 million during the quarter.

Oppenheimer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend 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 is currently 9.03%.

Hedge Funds Weigh In On Oppenheimer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arax Advisory Partners increased its position 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 valued at $35,000 after purchasing an additional 477 shares during the period. Torren Management LLC bought a new stake in Oppenheimer in the 4th quarter valued at $38,000. Barclays PLC acquired a new position in shares of Oppenheimer in the 4th quarter valued at $40,000. Clearstead Advisors LLC lifted its holdings in shares of Oppenheimer by 193.9% during the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 415 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in shares of Oppenheimer during the 2nd quarter worth about $49,000. 32.26% of the stock is currently owned by 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.