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

Oppenheimer Holdings Inc. (NYSE:OPY) achieved a new 52-week high during trading on Tuesday, with the stock price reaching as much as $71.32 before closing at $71.50. This marked an increase from its previous close of $68.93, and a total volume of 2,879 shares were traded during the day.

Oppenheimer Price Performance

Oppenheimer's stock is currently performing well with a market capitalization of $741.13 million. The company's price-to-earnings (PE) ratio stands at 11.09, and its beta is 1.14, suggesting a moderate level of volatility compared to the market. The firm's current ratio is at 1.29, indicating suitable short-term financial health, while the quick ratio is at 0.80, revealing a moderate level of liquidity. Furthermore, its debt-to-equity ratio is relatively low at 0.13.

Over the last fifty days, Oppenheimer has had a simple moving average of $63.20, while the average over the last 200 days is $55.74, indicating a solid upward trend in its price.

Recent Earnings Results

On October 25, Oppenheimer released its quarterly earnings report, revealing earnings of $2.16 per share for the quarter. The company's net profit margin was recorded at 5.27%, with a return on equity of 9.50%. During this quarter, Oppenheimer generated revenue totaling $373.35 million, showcasing its strong financial performance.

Dividend Declaration

Recently, Oppenheimer declared a quarterly dividend which was distributed on November 22. Shareholders of record on November 8 received a dividend of $0.18 per share, equating to an annualized dividend of $0.72 and providing a yield of approximately 1.00%. The company currently maintains a dividend payout ratio of 11.20%.

Institutional Interest in Oppenheimer

Recent trading data show heightened interest from institutional investors in Oppenheimer shares. American Century Companies Inc. raised its holdings by 35.3% in the second quarter, now owning 124,449 shares valued at $5,962,000 after acquiring an additional 32,444 shares. Similarly, TCW Group Inc. grew its stake by 53.2% during the third quarter, holding 76,600 shares worth $3,919,000 after a purchase of 26,600 shares.

Meanwhile, JPMorgan Chase & Co. augmented its investment significantly by 403.6% in the third quarter, increasing its portfolio by 13,747 shares. PDT Partners LLC initiated a new position in Oppenheimer, while Marshall Wace LLP boosted its holdings by 141.1%. Overall, institutional entities own 32.26% of the company's stock.

Company Overview

Oppenheimer Holdings Inc. serves as a middle-market investment bank and full-service broker-dealer, operating across the Americas, Europe, the Middle East, and Asia. The company provides various brokerage services, including trading in corporate equity and debt securities, money market instruments, exchange-traded options, futures contracts, municipal bonds, mutual funds, and exchange-traded funds. They also offer financial and wealth planning services and margin lending options.

Is Now the Time to Invest in Oppenheimer?

Considering Oppenheimer's recent performance and market activity, investors may question if now is the right time to buy. Currently, analysts have assigned a "Hold" rating on the stock. While Oppenheimer has shown good growth, there are recommendations for five other stocks that analysts believe to be more promising at this moment. It is essential for investors to weigh their options carefully before making any decisions.

Stocks, Earnings, Investment