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

Oppenheimer Holdings Inc. (NYSE:OPY) saw its stock price soar to a new 52-week high during trading on a recent Tuesday. The shares climbed as high as $71.32 and ultimately closed at $71.50, with a total trading volume of 2,879 shares. This rise follows a previous closing price of $68.93.

Oppenheimer Price Performance

The company has a market capitalization of $741.13 million. Key financial metrics include a price-to-earnings (PE) ratio of 11.09 and a beta of 1.14, indicating the stock's volatility compared to the market. Oppenheimer's liquidity ratios stand at a current ratio of 1.29 and a quick ratio of 0.80, while its debt-to-equity ratio is relatively low at 0.13. Furthermore, the stock's 50-day and 200-day simple moving averages are $63.20 and $55.74, respectively.

Recent Earnings Report

On October 25th, Oppenheimer released its latest quarterly earnings data. The financial services firm reported earnings per share (EPS) of $2.16 for the quarter. They achieved a net margin of 5.27% and a return on equity (ROE) of 9.50%, with total revenues reaching $373.35 million.

Oppenheimer's Dividend Announcement

In addition to its strong performance, Oppenheimer recently announced a quarterly dividend. The dividend was paid on November 22nd to investors who were on record as of November 8th, amounting to $0.18 per share. This translates to an annualized dividend of $0.72, resulting in a yield of 1.00%. The company currently maintains a modest dividend payout ratio of 11.20%.

Institutional Investment Activity

Recent months have seen increased activity among institutional investors regarding Oppenheimer shares. American Century Companies Inc. raised its stake by 35.3% during the second quarter, acquiring 32,444 additional shares. TCW Group Inc. also enhanced its holdings by 53.2% in the third quarter, adding 26,600 shares to its portfolio. Notably, JPMorgan Chase & Co. significantly increased its position by a remarkable 403.6% in the same time frame, with an additional purchase of 13,747 shares. Other hedge funds, like PDT Partners LLC and Marshall Wace LLP, also made notable investments, with hedge funds collectively owning 32.26% of Oppenheimer's stock.

About Oppenheimer

Oppenheimer Holdings Inc. operates as a middle-market investment bank and a full-service broker-dealer with a presence in the Americas, Europe, the Middle East, and Asia. The firm provides a wide array of brokerage services, which include trading in corporate equity and debt securities, money market instruments, exchange-traded options, municipal bonds, mutual funds, and exchange-traded funds, along with financial and wealth planning services.

Should You Invest in Oppenheimer Now?

Investors considering a stake in Oppenheimer should carefully evaluate their decision. While the company currently holds a "Hold" rating among analysts, there are suggestions that other stocks might present more compelling buying opportunities at this moment.

Oppenheimer, Stocks, Market