Oppenheimer (NYSE:OPY) Releases Earnings Results

Oppenheimer (NYSE:OPY) released its quarterly earnings data on Friday. The financial services provider reported $3.98 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $454.88 million for the quarter. Oppenheimer had a return on equity of 17.49% and a net margin of 5.66%.

Oppenheimer Stock Performance

Shares of NYSE:OPY opened at $106.52 on Friday. The business has a fifty day moving average of $106.17 and a 200-day moving average of $96.55. Oppenheimer has a twelve month low of $63.81 and a twelve month high of $123.24. The firm has a market cap of $1.14 billion, a PE ratio of 12.02 and a beta of 1.07.

Oppenheimer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Oppenheimer’s dividend payout ratio is 9.54%.

Analysts Set New Price Targets

Several brokerages have issued reports on OPY. Weiss Ratings raised shares of Oppenheimer from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Wall Street Zen raised shares of Oppenheimer from a “hold” rating to a “buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Hedge Funds Weigh In On Oppenheimer

A number of large investors have recently modified their holdings of OPY. Dimensional Fund Advisors LP increased its holdings in shares of Oppenheimer by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 497,033 shares of the financial services provider’s stock valued at $44,329,000 after purchasing an additional 7,384 shares in the last quarter. Vanguard Group Inc. raised its position in Oppenheimer by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 426,033 shares of the financial services provider’s stock worth $31,488,000 after purchasing an additional 10,345 shares during the last quarter. Millennium Management LLC lifted its holdings in Oppenheimer by 56.6% during the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock worth $8,294,000 after buying an additional 41,485 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Oppenheimer by 21.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,906 shares of the financial services provider’s stock worth $8,017,000 after buying an additional 19,558 shares in the last quarter. Finally, Boston Partners boosted its position in Oppenheimer by 9.2% in the 4th quarter. Boston Partners now owns 86,196 shares of the financial services provider’s stock valued at $6,231,000 after buying an additional 7,255 shares during the last quarter. 32.26% of the stock is currently owned by institutional investors and hedge funds.

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.