Oppenheimer (NYSE:OPY) Sees Strong Trading Volume After Dividend Announcement

Shares of Oppenheimer Holdings, Inc. (NYSE:OPYGet Free Report) saw unusually-high trading volume on Friday after the company announced a dividend. Approximately 59,955 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 57,332 shares.The stock last traded at $111.80 and had previously closed at $114.48.

The newly announced dividend which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.8%. This is a boost from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, May 15th. Oppenheimer’s payout ratio is presently 8.58%.

Wall Street Analyst Weigh In

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

Get Our Latest Research Report on Oppenheimer

Oppenheimer Price Performance

The stock has a market cap of $1.14 billion, a P/E ratio of 12.66 and a beta of 1.19. The stock has a 50-day simple moving average of $95.11 and a 200-day simple moving average of $81.45.

Oppenheimer (NYSE:OPYGet Free Report) last issued its earnings results on Friday, May 1st. The financial services provider reported $4.21 EPS for the quarter. The firm 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%.

Key Stories Impacting Oppenheimer

Here are the key news stories impacting Oppenheimer this week:

Insider Buying and Selling

In other Oppenheimer news, insider Dennis P. Mcnamara sold 4,673 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $90.67, for a total transaction of $423,700.91. Following the completion of the transaction, the insider owned 20,177 shares of the company’s stock, valued at approximately $1,829,448.59. The trade was a 18.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 34.86% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in Oppenheimer during the third quarter worth about $31,000. Arax Advisory Partners raised its stake in Oppenheimer by 47,700.0% during the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 477 shares in the last quarter. Torren Management LLC acquired a new position in Oppenheimer during the fourth quarter worth about $38,000. Barclays PLC acquired a new position in Oppenheimer during the fourth quarter worth about $40,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 415 shares during the last quarter. Institutional investors and hedge funds own 32.26% of the company’s stock.

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.

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