Oppenheimer Holdings Sees Mixed Trading Volume and Analyst Ratings

Oppenheimer Holdings, Inc. (NYSE:OPY) experienced a notable decline in trading volume on Monday, with approximately 35,041 shares changing hands. This figure represents a decrease of 20% from the previous session’s volume of 43,880 shares. The stock recently traded at $66.98, up from its last closing price of $65.63.

Analysts Adjust Ratings

Recent reports from equities analysts have reflected a cautious stance on Oppenheimer. Weiss Ratings reaffirmed a “buy (B-)” rating in a report released on October 8, 2023. In contrast, Wall Street Zen downgraded the stock from a “strong-buy” to a “buy” rating on November 8, 2023. Currently, one analyst has assigned a “Buy” rating, leading to a consensus rating of “Buy,” according to MarketBeat.com.

Oppenheimer’s most recent earnings report, issued on October 31, 2023, revealed earnings of $1.90 per share for the quarter, alongside a revenue of $401.94 million. The company achieved a return on equity of 10.13% and a net margin of 5.88%, highlighting its operational efficiency.

Dividend Announcement and Institutional Trading

In a positive move for shareholders, Oppenheimer declared a quarterly dividend of $0.18, scheduled to be paid on November 28, 2023. This dividend will be distributed to shareholders of record on November 14, 2023, representing an annualized dividend of $0.72 and a yield of 1.1%. The ex-dividend date also falls on November 14, 2023, and the company maintains a dividend payout ratio of 9.66%.

Institutional trading activity has seen various hedge funds adjusting their positions in Oppenheimer. Penn Capital Management Company LLC acquired a new stake valued at approximately $640,000 during the third quarter. Additionally, Caxton Associates LLP increased its holdings by 47%, owning 5,083 shares worth $376,000 after purchasing an additional 1,626 shares. Voleon Capital Management LP entered a new position valued at around $955,000, while Verition Fund Management LLC enlarged its stake by 99.2%, now holding 6,828 shares valued at $505,000. Qube Research & Technologies Ltd also increased its position by 95.3%, owning 21,701 shares valued at $1,604,000. Collectively, institutional investors hold 32.26% of Oppenheimer’s stock.

Oppenheimer Holdings, Inc. operates as a middle-market investment bank and a full-service broker-dealer across the Americas, Europe, the Middle East, and Asia. The firm offers a range of services, including brokerage for corporate equity and debt securities, financial and wealth planning, and margin lending.

As the market anticipates further developments, investors and analysts will continue to monitor Oppenheimer’s performance and strategic decisions in the coming months.