Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume After Dividend Announcement

Oppenheimer Holdings Inc. (NYSE:OPY) saw unusually-strong trading volume on Tuesday following a dividend announcement from the company. Approximately 109,588 shares traded 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. Shareholders of record on Friday, May 9th will be given a $0.18 dividend. 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 Analyst Weigh In

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

Oppenheimer Stock Performance

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

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

Institutional Trading of Oppenheimer

Several large investors have recently bought and sold shares of the company. Royce & Associates LP purchased a new position in shares of Oppenheimer in the 4th quarter valued at approximately $2,403,000. Arbiter Partners Capital Management LLC raised its holdings in Oppenheimer by 117.0% in the fourth quarter. Arbiter Partners Capital Management LLC now owns 49,683 shares of the financial services provider’s stock worth $3,184,000 after purchasing an additional 26,783 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Oppenheimer during the fourth quarter valued at $1,717,000. American Century Companies Inc. boosted its holdings in shares of Oppenheimer by 16.0% during the 4th quarter. American Century Companies Inc. now owns 193,956 shares of the financial services provider’s stock valued at $12,431,000 after buying an additional 26,686 shares in the last quarter. Finally, Vanguard Group Inc. grew its position 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 buying an additional 20,937 shares during the period. 32.26% of the stock is owned by institutional investors.

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.