Oppenheimer (NYSE:OPY) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Oppenheimer (NYSE:OPY) from a strong-buy rating to a buy rating in a report issued on Monday.

Oppenheimer Trading Up 0.4 %

NYSE:OPY opened at $67.07 on Monday. Oppenheimer has a 1 year low of $36.93 and a 1 year high of $73.12. The stock’s fifty day moving average price is $65.61 and its two-hundred day moving average price is $57.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 0.80. The company has a market cap of $692.84 million, a P/E ratio of 10.53 and a beta of 1.14.

Oppenheimer (NYSE:OPY) last announced its quarterly earnings results on Friday, January 31st. The financial services provider reported $0.92 earnings per share (EPS) for the quarter. Oppenheimer had a net margin of 5.00% and a return on equity of 8.76%.

Oppenheimer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, February 14th. Oppenheimer’s payout ratio is 11.30%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. TCW Group Inc. grew its stake in shares of Oppenheimer by 53.2% during the third quarter. TCW Group Inc. now owns 76,600 shares of the financial services provider’s stock valued at $3,919,000 after buying an additional 26,600 shares during the last quarter. JPMorgan Chase & Co. grew its position in Oppenheimer by 403.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,153 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 13,747 shares during the last quarter. PDT Partners LLC purchased a new stake in Oppenheimer in the third quarter worth $464,000. Marshall Wace LLP lifted its position in shares of Oppenheimer by 141.1% during the second quarter. Marshall Wace LLP now owns 14,736 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 8,623 shares during the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Oppenheimer during the third quarter valued at $414,000. Institutional investors own 32.26% of the company’s stock.

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.