Oppenheimer (NYSE:OPY) Share Price Passes Above 200-Day Moving Average – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $93.00 and traded as high as $116.52. Oppenheimer shares last traded at $116.3740, with a volume of 119,825 shares changing hands.

Wall Street Analyst Weigh In

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

Oppenheimer Stock Up 1.1%

The company’s 50-day moving average is $101.64 and its two-hundred day moving average is $93.00. The company has a market capitalization of $1.25 billion, a P/E ratio of 13.87 and a beta of 1.07.

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

Oppenheimer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.20 per share. This is an increase from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. Oppenheimer’s dividend payout ratio is 9.54%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DGS Capital Management LLC increased its stake in Oppenheimer by 2.7% in the first quarter. DGS Capital Management LLC now owns 3,681 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 97 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in Oppenheimer by 0.4% during the fourth quarter. Boothbay Fund Management LLC now owns 32,219 shares of the financial services provider’s stock worth $2,329,000 after purchasing an additional 120 shares during the last quarter. Geode Capital Management LLC lifted its stake in Oppenheimer by 0.3% during the second quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock worth $4,467,000 after purchasing an additional 214 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Oppenheimer by 6.3% in the 4th quarter. Inspire Investing LLC now owns 6,507 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 385 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Oppenheimer by 1.8% in the 1st quarter. Renaissance Technologies LLC now owns 22,800 shares of the financial services provider’s stock worth $2,034,000 after purchasing an additional 400 shares in the last quarter. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

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.