Oppenheimer (NYSE:OPY) Issues Earnings Results

Oppenheimer (NYSE:OPY) issued its quarterly earnings results on Friday. The financial services provider reported $6.51 EPS for the quarter, Zacks reports. The company had revenue of $472.63 million during the quarter. Oppenheimer had a return on equity of 9.58% and a net margin of 5.50%.

Oppenheimer Stock Up 10.5%

Shares of NYSE:OPY opened at $84.20 on Friday. Oppenheimer has a 52-week low of $49.26 and a 52-week high of $86.69. The business has a fifty day moving average of $73.65 and a two-hundred day moving average of $72.23. The stock has a market cap of $885.73 million, a P/E ratio of 11.30 and a beta of 1.17.

Oppenheimer Announces Dividend

The business also recently declared a special dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were given a $1.00 dividend. The ex-dividend date was Friday, December 26th. Oppenheimer’s dividend payout ratio is 9.66%.

Institutional Trading of Oppenheimer

A number of hedge funds and other institutional investors have recently modified their holdings of OPY. Marshall Wace LLP acquired a new stake in shares of Oppenheimer during the second quarter worth about $2,016,000. Algert Global LLC increased its stake in Oppenheimer by 726.5% during the 3rd quarter. Algert Global LLC now owns 33,779 shares of the financial services provider’s stock worth $2,497,000 after buying an additional 29,692 shares during the period. JPMorgan Chase & Co. lifted its holdings in Oppenheimer by 146.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock worth $2,949,000 after buying an additional 26,643 shares in the last quarter. Norges Bank purchased a new position in Oppenheimer in the 2nd quarter valued at approximately $1,585,000. Finally, Millennium Management LLC grew its stake in shares of Oppenheimer by 36.3% in the third quarter. Millennium Management LLC now owns 73,252 shares of the financial services provider’s stock worth $5,414,000 after acquiring an additional 19,513 shares in the last quarter. 32.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OPY has been the topic of several research reports. Wall Street Zen downgraded shares of Oppenheimer from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oppenheimer in a report on Thursday, January 22nd. Finally, Cantor Fitzgerald lowered Oppenheimer to a “buy” rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

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.