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

Oppenheimer Holdings Inc. (NYSE:OPY) saw strong trading volume on Wednesday . 32,240 shares were traded during mid-day trading, a decline of 2% from the previous session’s volume of 32,836 shares.The stock last traded at $62.55 and had previously closed at $61.76.

Analyst Ratings Changes

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

Oppenheimer Stock Down 0.4 %

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 firm’s 50 day moving average price is $65.03 and its two-hundred day moving average price is $60.15. The firm has a market cap of $641.45 million, a price-to-earnings ratio of 9.57 and a beta of 1.12.

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

Oppenheimer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.18 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. Oppenheimer’s dividend payout ratio (DPR) is 11.30%.

Hedge Funds Weigh In On Oppenheimer

Several institutional investors have recently bought and sold shares of OPY. Vanguard Group Inc. lifted its stake in shares of Oppenheimer by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 385,769 shares of the financial services provider’s stock worth $24,724,000 after acquiring an additional 20,937 shares during the period. American Century Companies Inc. raised its holdings in Oppenheimer by 16.0% during the fourth quarter. American Century Companies Inc. now owns 193,956 shares of the financial services provider’s stock worth $12,431,000 after purchasing an additional 26,686 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Oppenheimer by 3.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 90,566 shares of the financial services provider’s stock valued at $5,804,000 after purchasing an additional 3,119 shares during the period. TCW Group Inc. lifted its position in Oppenheimer by 3.5% in the fourth quarter. TCW Group Inc. now owns 79,300 shares of the financial services provider’s stock valued at $5,082,000 after purchasing an additional 2,700 shares during the period. Finally, Arbiter Partners Capital Management LLC boosted its holdings in Oppenheimer by 117.0% in the 4th quarter. Arbiter Partners Capital Management LLC now owns 49,683 shares of the financial services provider’s stock valued at $3,184,000 after purchasing an additional 26,783 shares in the last quarter. 32.26% of the stock is 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.