Oppenheimer (NYSE:OPY) Sees Strong Trading Volume – Time to Buy?

Oppenheimer Holdings Inc. (NYSE:OPY) shares saw strong trading volume on Wednesday . 12,083 shares were traded during mid-day trading, a decline of 26% from the previous session’s volume of 16,328 shares.The stock last traded at $64.00 and had previously closed at $63.60.

Oppenheimer Stock Performance

The stock has a market cap of $658.02 million, a PE ratio of 9.91 and a beta of 1.14. The firm’s 50-day moving average is $62.16 and its 200 day moving average is $54.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.29.

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

Oppenheimer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, November 8th. Oppenheimer’s payout ratio is currently 11.20%.

Institutional Investors Weigh In On Oppenheimer

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in shares of Oppenheimer by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 27,241 shares of the financial services provider’s stock valued at $1,305,000 after buying an additional 297 shares in the last quarter. Quest Partners LLC grew its stake in shares of Oppenheimer by 140.1% during the 3rd quarter. Quest Partners LLC now owns 4,070 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 2,375 shares during the period. FMR LLC increased its holdings in shares of Oppenheimer by 26.3% in the 3rd quarter. FMR LLC now owns 12,077 shares of the financial services provider’s stock valued at $618,000 after purchasing an additional 2,512 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Oppenheimer by 3,146.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,214 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 3,115 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Oppenheimer in the third quarter valued at about $290,000. 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.