Oppenheimer (NYSE:OPY) Reaches New 12-Month High Following Dividend Announcement

Oppenheimer Holdings Inc. (NYSE:OPY)’s share price reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $58.72 and last traded at $58.61, with a volume of 41239 shares. The stock had previously closed at $54.05.

The newly announced dividend which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, November 8th. Oppenheimer’s dividend payout ratio (DPR) is presently 13.14%.

Oppenheimer Stock Performance

The firm has a 50-day moving average of $50.54 and a 200-day moving average of $47.98. The company has a current ratio of 1.28, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $591.29 million, a price-to-earnings ratio of 10.45 and a beta of 1.15.

Oppenheimer (NYSE:OPY) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.16 earnings per share for the quarter. The firm had revenue of $373.35 million for the quarter. Oppenheimer had a net margin of 4.70% and a return on equity of 8.33%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC acquired a new stake in shares of Oppenheimer during the 3rd quarter worth approximately $414,000. Marshall Wace LLP boosted its holdings in Oppenheimer by 141.1% during the second quarter. Marshall Wace LLP now owns 14,736 shares of the financial services provider’s stock worth $706,000 after buying an additional 8,623 shares in the last quarter. Bank of Montreal Can acquired a new stake in Oppenheimer during the second quarter valued at $367,000. Beverly Hills Private Wealth LLC increased its holdings in Oppenheimer by 55.6% in the second quarter. Beverly Hills Private Wealth LLC now owns 19,850 shares of the financial services provider’s stock valued at $951,000 after buying an additional 7,094 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Oppenheimer by 35.3% in the second quarter. American Century Companies Inc. now owns 124,449 shares of the financial services provider’s stock worth $5,962,000 after acquiring an additional 32,444 shares during the period. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

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.