Oppenheimer (NYSE:OPY) Trading Up 6% – Still a Buy?

Oppenheimer Holdings Inc. (NYSE:OPY) traded up 6% during trading on Tuesday . The stock traded as high as $70.25 and last traded at $69.65. 15,957 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 36,702 shares. The stock had previously closed at $65.69.

Oppenheimer Stock Up 3.9 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 0.80. The stock has a market cap of $704.92 million, a price-to-earnings ratio of 10.58 and a beta of 1.14. The business has a fifty day moving average of $55.00 and a 200 day moving average of $51.32.

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

Oppenheimer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.72 dividend on an annualized basis and a yield of 1.06%. Oppenheimer’s payout ratio is currently 11.20%.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Oppenheimer by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 284,885 shares of the financial services provider’s stock valued at $11,373,000 after buying an additional 12,525 shares during the last quarter. American Century Companies Inc. boosted its stake in Oppenheimer by 35.3% during the 2nd quarter. American Century Companies Inc. now owns 124,449 shares of the financial services provider’s stock valued at $5,962,000 after purchasing an additional 32,444 shares during the period. TCW Group Inc. increased its position in Oppenheimer by 53.2% in the 3rd quarter. TCW Group Inc. now owns 76,600 shares of the financial services provider’s stock worth $3,919,000 after buying an additional 26,600 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Oppenheimer by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 27,241 shares of the financial services provider’s stock worth $1,305,000 after buying an additional 297 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Oppenheimer in the second quarter valued at approximately $1,197,000. Institutional investors own 32.26% of the company’s stock.

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.