Oppenheimer (NYSE:OPY) Reaches New 12-Month High - Time to Buy?

Oppenheimer Holdings Inc. (NYSE:OPY) has recently achieved a new 52-week high as its stock price soared during trading on Tuesday. The stock reached a peak of $71.32 before settling at $71.50, with a total trading volume of 2,879 shares for the day. Previously, the stock had closed at $68.93.

Oppenheimer Price Performance

The firm holds a market capitalization of approximately $741.13 million and shows a price-to-earnings (PE) ratio of 11.09, alongside a beta value of 1.14. Evaluating other financial ratios, Oppenheimer exhibits a current ratio of 1.29, a quick ratio of 0.80, and a remarkably low debt-to-equity ratio of 0.13. Furthermore, its fifty-day simple moving average stands at $63.20, while the 200-day simple moving average is at $55.74.

Oppenheimer's latest quarterly earnings report was issued on October 25. The financial services company reported earnings per share (EPS) of $2.16 for the quarter, reflecting a net margin of 5.27% and a return on equity (ROE) of 9.50%. The total revenue reported for the quarter was $373.35 million.

Oppenheimer Announces Dividend

In addition to its impressive stock performance, Oppenheimer declared a quarterly dividend that was paid to shareholders on November 22. Shareholders of record as of November 8 received a dividend of $0.18 per share, translating to an annualized dividend of $0.72 and a yield of 1.00%. The current dividend payout ratio for Oppenheimer stands at 11.20%.

Institutional Trading of Oppenheimer

A number of institutional investors and hedge funds have been actively trading Oppenheimer shares recently. For example, American Century Companies Inc. increased its position in Oppenheimer by 35.3% during the second quarter, resulting in ownership of 124,449 shares valued at $5,962,000 after acquiring an additional 32,444 shares. TCW Group Inc. also raised its holdings by 53.2% in the third quarter, now controlling 76,600 shares worth approximately $3,919,000 after increasing their stake by 26,600 shares. Similarly, JPMorgan Chase & Co. boosted its position in Oppenheimer by an impressive 403.6% in the same timeframe. They now own 17,153 shares valued at $878,000 following the acquisition of an additional 13,747 shares.

Furthermore, PDT Partners LLC took a new stake in Oppenheimer worth about $464,000 during the third quarter. Marshall Wace LLP also expanded its holding by 141.1% during the second quarter, increasing their ownership to 14,736 shares valued at $706,000. Overall, institutional and hedge fund investors collectively own 32.26% of Oppenheimer's outstanding shares.

About Oppenheimer

Oppenheimer Holdings Inc. operates as a middle-market investment bank and a full-service broker-dealer across multiple regions, including the Americas, Europe, the Middle East, and Asia. The company provides a range of services, including brokerage for corporate equity and debt securities, municipal bonds, mutual funds, and exchange-traded funds. Additionally, they offer financial planning, wealth management services, and margin lending.

Should You Invest $1,000 in Oppenheimer Right Now?

Before making an investment decision regarding Oppenheimer, it is prudent to gather insights from market analysis. Various analysts currently rate Oppenheimer's stock as a "Hold," suggesting cautious optimism. However, some market researchers have identified five other stocks that might be more appealing for investment at this moment.

In summary, while Oppenheimer's stock has reached new heights, it is crucial to consider all available options and seek professional advice when deciding to invest.

Oppenheimer, Investment, Stocks