Oppenheimer (NYSE:OPY) Lowered to "Buy" Rating by StockNews.com

StockNews.com cut shares of Oppenheimer (NYSE:OPY - Free Report) from a strong-buy rating to a buy rating in a report released on Monday morning.

Oppenheimer Stock Down 1.2 %

OPY traded down $0.81 during trading on Monday, reaching $67.10. 10,534 shares of the stock traded hands, compared to its average volume of 22,141. The stock has a market cap of $693.18 million, a price-to-earnings ratio of 10.53 and a beta of 1.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 0.80. Oppenheimer has a fifty-two week low of $36.93 and a fifty-two week high of $73.12. The stock's 50-day simple moving average is $65.73 and its two-hundred day simple moving average is $57.38.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $0.92 EPS for the quarter. Oppenheimer had a return on equity of 8.76% and a net margin of 5.00%.

Oppenheimer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.72 annualized dividend and a yield of 1.07%. Oppenheimer's dividend payout ratio (DPR) is presently 11.30%.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors have recently made changes to their positions in OPY. TCW Group Inc. boosted its position in shares of Oppenheimer by 53.2% in the third quarter. TCW Group Inc. now owns 76,600 shares of the financial services provider's stock valued at $3,919,000 after acquiring an additional 26,600 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Oppenheimer by 403.6% in the third quarter. JPMorgan Chase & Co. now owns 17,153 shares of the financial services provider's stock valued at $878,000 after buying an additional 13,747 shares during the period. PDT Partners LLC bought a new position in Oppenheimer during the third quarter valued at about $464,000. Marshall Wace LLP raised its holdings in Oppenheimer by 141.1% in the 2nd quarter. Marshall Wace LLP now owns 14,736 shares of the financial services provider's stock valued at $706,000 after acquiring an additional 8,623 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Oppenheimer in the 3rd quarter worth approximately $414,000. 32.26% of the stock is currently owned by institutional investors.

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.