Oppenheimer (NYSE:OPY) Posts Quarterly Earnings Results

Oppenheimer (NYSE:OPYGet Free Report) announced its earnings results on Friday. The financial services provider reported $4.21 earnings per share for the quarter, Zacks reports. The business had revenue of $445.10 million during the quarter. Oppenheimer had a return on equity of 16.10% and a net margin of 9.06%.

Oppenheimer Price Performance

NYSE OPY traded down $8.25 during mid-day trading on Friday, hitting $106.23. The stock had a trading volume of 156,970 shares, compared to its average volume of 58,803. The firm’s 50 day moving average is $95.11 and its 200 day moving average is $81.36. Oppenheimer has a twelve month low of $59.54 and a twelve month high of $118.77. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 8.15 and a beta of 1.14.

Oppenheimer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.80 annualized dividend and a yield of 0.8%. This is an increase from Oppenheimer’s previous quarterly dividend of $0.18. Oppenheimer’s dividend payout ratio is currently 5.52%.

Insider Buying and Selling

In related news, insider Dennis P. Mcnamara sold 4,673 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the transaction, the insider directly owned 20,177 shares of the company’s stock, valued at approximately $1,829,448.59. This represents a 18.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 34.86% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Caxton Associates LLP raised its stake in Oppenheimer by 47.0% in the 3rd quarter. Caxton Associates LLP now owns 5,083 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 1,626 shares during the last quarter. Brevan Howard Capital Management LP grew its holdings in Oppenheimer by 34.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 5,773 shares of the financial services provider’s stock valued at $427,000 after buying an additional 1,485 shares in the last quarter. Aquatic Capital Management LLC grew its holdings in Oppenheimer by 804.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 2,805 shares of the financial services provider’s stock valued at $207,000 after buying an additional 2,495 shares in the last quarter. Virtu Financial LLC purchased a new stake in Oppenheimer in the 3rd quarter valued at $351,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in Oppenheimer in the 2nd quarter valued at $282,000. 32.26% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Oppenheimer

Here are the key news stories impacting Oppenheimer this week:

Analysts Set New Price Targets

Several brokerages have recently weighed in on OPY. Wall Street Zen raised Oppenheimer from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Weiss Ratings raised Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, April 21st. Finally, Cantor Fitzgerald downgraded Oppenheimer to a “buy” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Oppenheimer presently has a consensus rating of “Buy”.

Get Our Latest Stock Analysis on Oppenheimer

About Oppenheimer

(Get Free Report)

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.

Further Reading

Earnings History for Oppenheimer (NYSE:OPY)

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