Oppenheimer (NYSE:OPY) Shares Gap Up – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $94.32, but opened at $100.95. Oppenheimer shares last traded at $99.4360, with a volume of 2,077 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OPY. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Oppenheimer Price Performance

The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.81 and a beta of 1.10. The stock has a fifty day simple moving average of $99.08 and a 200-day simple moving average of $85.79.

Oppenheimer (NYSE:OPY) last announced 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 return on equity of 17.49% and a net margin of 5.66%.The company had revenue of $445.10 million during the quarter.

Oppenheimer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is a boost from Oppenheimer’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. Oppenheimer’s dividend payout ratio is presently 9.54%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in Oppenheimer by 17.3% in the third quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock valued at $22,115,000 after acquiring an additional 44,145 shares during the period. JPMorgan Chase & Co. lifted its holdings in Oppenheimer by 54.9% in the third quarter. JPMorgan Chase & Co. now owns 69,438 shares of the financial services provider’s stock valued at $5,132,000 after acquiring an additional 24,596 shares during the period. Royce & Associates LP lifted its holdings in Oppenheimer by 18.0% in the third quarter. Royce & Associates LP now owns 112,404 shares of the financial services provider’s stock valued at $8,308,000 after acquiring an additional 17,122 shares during the period. Round Rock Advisors LLC lifted its holdings in Oppenheimer by 62.9% in the fourth quarter. Round Rock Advisors LLC now owns 14,539 shares of the financial services provider’s stock valued at $1,051,000 after acquiring an additional 5,615 shares during the period. Finally, Penn Capital Management Company LLC acquired a new position in Oppenheimer in the third quarter valued at approximately $640,000. 32.26% of the stock is 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.