Oppenheimer (NYSE:OPY) Shares Cross Above 200 Day Moving Average – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $84.52 and traded as high as $95.60. Oppenheimer shares last traded at $94.72, with a volume of 38,188 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Oppenheimer Stock Up 0.9%

The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 11.29 and a beta of 1.19. The company’s 50-day simple moving average is $97.71 and its 200-day simple moving average is $84.52.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) for the quarter. The firm had revenue of $445.10 million for the quarter. Oppenheimer had a net margin of 5.66% and a return on equity of 17.49%.

Oppenheimer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.8%. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, May 15th. Oppenheimer’s dividend payout ratio (DPR) is presently 9.54%.

Insider Transactions at Oppenheimer

In other Oppenheimer 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 transaction, the insider 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 SEC, which can be accessed through this hyperlink. Company insiders own 34.86% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its position in Oppenheimer by 17.3% in the third quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock worth $22,115,000 after buying an additional 44,145 shares during the last quarter. JPMorgan Chase & Co. grew its position in Oppenheimer by 54.9% in the third quarter. JPMorgan Chase & Co. now owns 69,438 shares of the financial services provider’s stock worth $5,132,000 after buying an additional 24,596 shares during the last quarter. Royce & Associates LP grew its position in Oppenheimer by 18.0% in the third quarter. Royce & Associates LP now owns 112,404 shares of the financial services provider’s stock worth $8,308,000 after buying an additional 17,122 shares during the last quarter. Round Rock Advisors LLC grew its position in Oppenheimer by 62.9% in the fourth quarter. Round Rock Advisors LLC now owns 14,539 shares of the financial services provider’s stock worth $1,051,000 after buying an additional 5,615 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in Oppenheimer in the third quarter worth approximately $640,000. Institutional investors and hedge funds own 32.26% of the company’s stock.

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.