Oppenheimer (NYSE:OPY) Shares Gap Up Following Dividend Announcement

Shares of Oppenheimer Holdings Inc. (NYSE:OPY) gapped up before the market opened on Friday following a dividend announcement from the company. The stock had previously closed at $48.50, but opened at $50.00. Oppenheimer shares last traded at $50.02, with a volume of 3,135 shares trading hands.

The newly announced dividend which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, November 8th. Oppenheimer’s dividend payout ratio (DPR) is presently 13.14%.

Oppenheimer Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.28 and a quick ratio of 0.79. The company’s 50-day moving average price is $50.27 and its 200-day moving average price is $47.64. The company has a market cap of $558.34 million, a P/E ratio of 9.86 and a beta of 1.15.

Oppenheimer (NYSE:OPY) last released its earnings results on Friday, October 25th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 8.33% and a net margin of 4.70%. The firm had revenue of $373.35 million during the quarter.

Insider Transactions at Oppenheimer

In related news, insider Dennis P. Mcnamara sold 6,000 shares of Oppenheimer stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $51.28, for a total value of $307,680.00. Following the sale, the insider now owns 20,681 shares of the company’s stock, valued at approximately $1,060,521.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in Oppenheimer during the 2nd quarter worth about $56,000. Bank of Montreal Can bought a new stake in Oppenheimer during the second quarter worth about $367,000. Inspire Investing LLC acquired a new position in Oppenheimer during the third quarter valued at approximately $414,000. Marshall Wace LLP boosted its position in Oppenheimer by 141.1% during the second quarter. Marshall Wace LLP now owns 14,736 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 8,623 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC grew its stake in Oppenheimer by 55.6% in the second quarter. Beverly Hills Private Wealth LLC now owns 19,850 shares of the financial services provider’s stock valued at $951,000 after purchasing an additional 7,094 shares in the last quarter. Institutional investors and hedge funds own 32.26% of the company’s stock.

About Oppenheimer

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.