Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – Still a Buy?

Oppenheimer Holdings Inc. (NYSE:OPY) shares saw an uptick in trading volume on Friday . 28,507 shares changed hands during trading, an increase of 24% from the previous session’s volume of 22,937 shares.The stock last traded at $62.78 and had previously closed at $63.36.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Oppenheimer from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd.

Oppenheimer Price Performance

The company has a market cap of $647.13 million, a price-to-earnings ratio of 9.83 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average price is $66.13 and its 200 day moving average price is $59.37.

Oppenheimer (NYSE:OPY) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $0.92 EPS for the quarter. Oppenheimer had a net margin of 5.00% and a return on equity of 8.76%.

Oppenheimer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.15%. Oppenheimer’s dividend payout ratio (DPR) is presently 11.30%.

Institutional Investors Weigh In On Oppenheimer

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming grew its holdings in Oppenheimer by 10.9% in the fourth quarter. State of Wyoming now owns 4,403 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 431 shares during the period. Jane Street Group LLC lifted its position in Oppenheimer by 10.7% during the fourth quarter. Jane Street Group LLC now owns 6,900 shares of the financial services provider’s stock valued at $442,000 after buying an additional 666 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in Oppenheimer by 3.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 22,825 shares of the financial services provider’s stock valued at $1,463,000 after buying an additional 822 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its position in Oppenheimer by 3.3% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 27,271 shares of the financial services provider’s stock valued at $1,748,000 after buying an additional 866 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in Oppenheimer during the fourth quarter valued at approximately $77,000. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

Oppenheimer Company Profile

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.