Oppenheimer (NYSE:OPY) Issues Earnings Results

Oppenheimer (NYSE:OPY) issued its quarterly earnings results on Friday. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, reports. The firm had revenue of $312.67 million during the quarter. Oppenheimer had a return on equity of 5.22% and a net margin of 3.31%.

Oppenheimer Stock Performance

OPY opened at $33.71 on Monday. The firm has a market cap of $355.64 million, a PE ratio of 9.77 and a beta of 1.09. The company has a quick ratio of 0.82, a current ratio of 1.30 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $37.11 and a 200-day simple moving average of $38.26. Oppenheimer has a fifty-two week low of $31.23 and a fifty-two week high of $49.32.

Oppenheimer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 9th. Oppenheimer’s dividend payout ratio is presently 17.39%.

Insider Transactions at Oppenheimer

In other news, Director Evan Behrens sold 7,500 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $38.35, for a total value of $287,625.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $421,850. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 32.49% of the company’s stock.

Institutional Trading of Oppenheimer

Hedge funds and other institutional investors have recently modified their holdings of the business. Corsair Capital Management L.P. acquired a new stake in shares of Oppenheimer in the second quarter worth $241,000. ExodusPoint Capital Management LP purchased a new stake in shares of Oppenheimer during the second quarter worth $358,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Oppenheimer during the second quarter worth $671,000. Missouri Trust & Investment Co purchased a new stake in shares of Oppenheimer during the second quarter worth $76,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Oppenheimer during the second quarter worth $146,000. Institutional investors and hedge funds own 36.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on OPY. TheStreet lowered Oppenheimer from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. StockNews.com began coverage on Oppenheimer in a research note on Thursday, October 5th. They set a “buy” rating for the company.

Oppenheimer Company Profile

Oppenheimer Holdings Inc, through its subsidiaries, operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company offers 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.