Oppenheimer (NYSE:OPY) Sees Large Volume Increase After Dividend Announcement

Oppenheimer Holdings Inc. (NYSE:OPY) saw strong trading volume on Tuesday after the company announced a dividend. 109,588 shares changed hands during mid-day trading, an increase of 211% from the previous session’s volume of 35,287 shares.The stock last traded at $59.14 and had previously closed at $58.15.

The newly announced dividend which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, May 9th. Oppenheimer’s payout ratio is 11.30%.

Wall Street Analysts Forecast Growth

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

Oppenheimer Stock Performance

The company has a quick ratio of 0.80, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $626.97 million, a P/E ratio of 9.35 and a beta of 1.10. The business has a fifty day moving average price of $59.05 and a 200-day moving average price of $61.26.

Oppenheimer (NYSE:OPY) last posted its earnings results on Friday, April 25th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter. The business had revenue of $367.83 million for the quarter. Oppenheimer had a net margin of 5.00% and a return on equity of 8.76%.

Institutional Investors Weigh In On Oppenheimer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Oppenheimer by 8,364.5% during the 1st quarter. GAMMA Investing LLC now owns 2,624 shares of the financial services provider’s stock valued at $156,000 after buying an additional 2,593 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new stake in Oppenheimer during the fourth quarter valued at $77,000. State of Wyoming lifted its holdings in Oppenheimer by 10.9% in the fourth quarter. State of Wyoming now owns 4,403 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 431 shares during the period. Occudo Quantitative Strategies LP purchased a new position in Oppenheimer in the fourth quarter worth about $227,000. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Oppenheimer by 44.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 33,843 shares of the financial services provider’s stock valued at $2,169,000 after purchasing an additional 10,387 shares during the period. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Oppenheimer Company Profile

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.