Oppenheimer (NYSE:OPY) Sets New 12-Month High – Time to Buy?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) hit a new 52-week high during trading on Friday . The company traded as high as $123.73 and last traded at $121.89, with a volume of 40785 shares traded. The stock had previously closed at $120.00.

Wall Street Analyst Weigh In

OPY has been the topic of a number of research reports. Weiss Ratings raised shares of Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Oppenheimer from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Oppenheimer currently has a consensus rating of “Buy”.

Oppenheimer Price Performance

The firm has a fifty day moving average of $112.42 and a two-hundred day moving average of $101.23. The stock has a market capitalization of $1.30 billion, a P/E ratio of 13.73 and a beta of 1.09.

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

Oppenheimer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid 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 dividend yield of 0.7%. Oppenheimer’s dividend payout ratio (DPR) is currently 9.03%.

Hedge Funds Weigh In On Oppenheimer

Several institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Oppenheimer by 39.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider’s stock worth $486,000 after buying an additional 2,296 shares during the period. Caxton Associates LLP purchased a new position in shares of Oppenheimer in the 1st quarter valued at $206,000. Empowered Funds LLC increased its holdings in shares of Oppenheimer by 5.3% in the 1st quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider’s stock valued at $2,167,000 after acquiring an additional 1,836 shares during the period. Geode Capital Management LLC raised its position in shares of Oppenheimer by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock worth $4,467,000 after acquiring an additional 214 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Oppenheimer by 146.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock worth $2,949,000 after acquiring an additional 26,643 shares in the last quarter. 32.26% of the stock is owned by hedge funds and other institutional investors.

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.