Oppenheimer (NYSE:OPY) Sets New 1-Year High – Still a Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $95.21 and last traded at $95.0410, with a volume of 45454 shares changing hands. The stock had previously closed at $91.01.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Cantor Fitzgerald cut shares of Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Wall Street Zen upgraded Oppenheimer from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Oppenheimer Price Performance

The company’s 50-day moving average price is $87.60 and its two-hundred day moving average price is $77.18. The company has a market capitalization of $1.12 billion, a P/E ratio of 8.00 and a beta of 1.14.

Oppenheimer (NYSE:OPY) last announced its earnings results on Friday, January 30th. The financial services provider reported $6.51 earnings per share (EPS) for the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%. The company had revenue of $472.63 million during the quarter.

Oppenheimer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Oppenheimer’s dividend payout ratio is presently 5.52%.

Insider Activity at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 4,673 shares of Oppenheimer stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the sale, the insider directly owned 20,177 shares in the company, valued at approximately $1,829,448.59. The trade was a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 34.86% of the company’s stock.

Institutional Investors Weigh In On Oppenheimer

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in Oppenheimer in the third quarter valued at $31,000. Arax Advisory Partners lifted its holdings in Oppenheimer by 47,700.0% during the 4th 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 period. Torren Management LLC bought a new stake in shares of Oppenheimer in the 4th quarter valued at about $38,000. Barclays PLC bought a new stake in shares of Oppenheimer in the 4th quarter valued at about $40,000. Finally, Clearstead Advisors LLC increased its stake in shares of 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 buying an additional 415 shares during the period. 32.26% of the stock is owned by institutional investors.

Oppenheimer Company Profile

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.