Oppenheimer (NYSE:OPY) Hits New 1-Year High – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $125.88 and last traded at $123.2220, with a volume of 97508 shares. The stock had previously closed at $122.89.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OPY. Wall Street Zen upgraded Oppenheimer from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

Oppenheimer Stock Up 0.3%

The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 13.91 and a beta of 1.10. The stock’s 50 day moving average price is $114.69 and its two-hundred day moving average price is $103.09.

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

Oppenheimer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. Oppenheimer’s dividend payout ratio (DPR) is 9.03%.

Institutional Investors Weigh In On Oppenheimer

Large investors have recently made changes to their positions in the company. Arax Advisory Partners increased its holdings in Oppenheimer by 47,700.0% in the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock worth $35,000 after buying an additional 477 shares during the last quarter. Barclays PLC bought a new position in Oppenheimer during the fourth quarter valued at approximately $40,000. Clearstead Advisors LLC lifted its stake in Oppenheimer by 193.9% in the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 415 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Oppenheimer in the second quarter valued at approximately $49,000. Finally, Quantbot Technologies LP bought a new stake in Oppenheimer in the second quarter worth approximately $112,000. Institutional investors own 32.26% of the company’s stock.

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.