Oppenheimer (NYSE:OPY) Sees Strong Trading Volume – Here’s Why

Oppenheimer Holdings Inc. (NYSE:OPY) shares saw an uptick in trading volume on Wednesday . 12,083 shares were traded during trading, a decline of 26% from the previous session’s volume of 16,328 shares.The stock last traded at $64.00 and had previously closed at $63.60.

Oppenheimer Price Performance

The stock has a market capitalization of $646.51 million, a price-to-earnings ratio of 9.73 and a beta of 1.14. The company has a quick ratio of 0.80, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $62.44 and its 200-day simple moving average is $54.77.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.16 earnings per share for the quarter. Oppenheimer had a net margin of 5.27% and a return on equity of 9.50%. The company had revenue of $373.35 million for the quarter.

Oppenheimer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a dividend of $0.18 per share. The ex-dividend date was Friday, November 8th. This represents a $0.72 annualized dividend and a yield of 1.15%. Oppenheimer’s dividend payout ratio is presently 11.20%.

Institutional Investors Weigh In On Oppenheimer

Several hedge funds have recently added to or reduced their stakes in OPY. JPMorgan Chase & Co. raised its holdings in Oppenheimer by 403.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,153 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 13,747 shares during the last quarter. TCW Group Inc. increased its stake in shares of Oppenheimer by 53.2% in the 3rd quarter. TCW Group Inc. now owns 76,600 shares of the financial services provider’s stock valued at $3,919,000 after acquiring an additional 26,600 shares in the last quarter. XTX Topco Ltd bought a new stake in Oppenheimer during the 3rd quarter valued at $407,000. Jane Street Group LLC bought a new stake in Oppenheimer during the 3rd quarter valued at $319,000. Finally, Quadrature Capital Ltd bought a new stake in Oppenheimer during the 3rd quarter valued at $290,000. 32.26% of the stock is currently owned by institutional investors and hedge funds.

About Oppenheimer

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.