Oppenheimer (NYSE:OPY) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $95.68 and traded as high as $112.76. Oppenheimer shares last traded at $110.30, with a volume of 116,162 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OPY shares. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Oppenheimer currently has an average rating of “Moderate Buy”.

Oppenheimer Stock Performance

The firm’s 50-day moving average price is $104.94 and its two-hundred day moving average price is $95.68. The firm has a market cap of $1.18 billion, a PE ratio of 13.15 and a beta of 1.07.

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

Oppenheimer Increases Dividend

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

Institutional Trading of Oppenheimer

A number of hedge funds and other institutional investors have recently made changes to their positions in OPY. Goldman Sachs Group Inc. lifted its holdings in shares of Oppenheimer by 39.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 2,296 shares during the last quarter. Caxton Associates LLP purchased a new position in Oppenheimer during the 1st quarter worth approximately $206,000. Empowered Funds LLC grew its stake in Oppenheimer by 5.3% during the 1st quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider’s stock worth $2,167,000 after buying an additional 1,836 shares during the last quarter. Geode Capital Management LLC increased its position 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 buying an additional 214 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Oppenheimer by 146.4% during the second quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock worth $2,949,000 after buying an additional 26,643 shares during the period. Institutional investors and hedge funds own 32.26% of the company’s stock.

About Oppenheimer

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.