Oppenheimer Hld Stock Price, News & Analysis

Oppenheimer & Co. Inc. successfully concluded its 24th Annual Technology, Internet & Communications Conference from August 9-11, 2021. The virtual event connected over 700 institutional investors with more than 150 leading public and disruptive private technology companies. Oppenheimer's Head of Technology Investment Banking, Robin Graham, highlighted the essential role of technology in economic evolution post-COVID-19. Erica L. Moffett, Managing Director, emphasized the conference's focus on trends in SaaS, cloud computing, and analytics, underscoring Oppenheimer's commitment to fostering valuable investor-company dialogues.

Oppenheimer Holdings reported a strong second quarter of 2021 with net income of $31.2 million or $2.46 per share, marking a 76.5% increase from last year. Revenue reached $340.3 million, a 28.5% increase year-over-year, reflecting robust investment banking performance driven by higher equity underwriting and M&A fees. The firm announced a 25% dividend increase to $0.15 per share, and assets under management totaled $43.7 billion, a significant rise from prior periods. However, low interest rates continued to impact Wealth Management profitability.

Oppenheimer & Co. has expanded its Global Technology Investment Banking Group with the appointment of Maxwell Gover as Managing Director, effective July 6, 2021. Gover, with over 12 years of experience, will focus on strategic advisory and capital raising within the interactive media and communications sectors. This move is part of Oppenheimer's strategy to enhance its technology investment banking capabilities. The firm reported a 70% increase in full-year investment banking revenue for 2020, reaching $222 million, with Q1 2021 revenue surging 384% to $124.5 million.

On June 15, 2021, Oppenheimer announced significant expansion of its Financial Institutions investment banking group with the hiring of veteran bankers Cliff Booth and JD Nelson. Booth takes the role of Managing Director and Head of Specialty Finance Investment Banking, while Nelson will serve as Managing Director in Specialty Finance. Additionally, Mitchel Penn joins as Managing Director for Equity Research, enhancing the firm's focus on business development corporations. This strategic growth aims to support Oppenheimer's impressive investment banking performance, which saw revenues surge to $222 million in 2020, up 70% from 2019.

Oppenheimer Holdings reported a net income of $38.7 million or $3.07 per share for Q1 2021, soaring 400% compared to $7.8 million or $0.61 per share in Q1 2020. Revenue reached $373.3 million, a 59% increase from $234.8 million in the prior year. The growth was driven by strong equity underwriting, particularly in healthcare and technology sectors, and a flourishing M&A advisory business. However, increased compensation costs of $11.6 million impacted earnings. The company also announced a quarterly dividend of $0.12 per share.

On March 23, 2021, Oppenheimer announced key additions to its Healthcare Investment Banking team, enhancing its capabilities in M&A and capital raising. Jonathan Fassberg joins as Vice Chairman, with his extensive experience in biotech and life sciences. Brian Korb and Don Ritucci assume Managing Director roles, with Ritucci heading Healthcare M&A. These strategic hires aim to strengthen Oppenheimer's position in the fast-growing healthcare sector and offer comprehensive advisory services to clients.

Oppenheimer successfully concluded its 31st Annual Healthcare Conference held virtually from March 16-18, 2021. The event showcased discussions from over 240 healthcare companies, focusing on key industry trends and investment opportunities. Oppenheimer's Healthcare Investment Banking team reported a 73% increase in bookrun deal volume and a 50% rise in average deal size in the past year. The conference featured notable keynotes, including Dr. Scott Gottlieb discussing the COVID-19 'endgame,' emphasizing the industry's crucial role in economic recovery.

Oppenheimer Holdings reported a significant rise in Q4 2020, with net income of $81.9 million ($6.56 EPS), up from $25.4 million ($1.99 EPS) in Q4 2019. Q4 revenue increased by 42.9% to $422.9 million, while FY 2020 net income rose to $123.0 million ($9.73 EPS), compared to $53.0 million in FY 2019. Revenue for FY 2020 was $1.2 billion, a 16.0% increase year-over-year. Record performance was noted in both the Asset Management and Capital Markets segments, attributed to high volatility and strong equity markets.

Oppenheimer & Co. Inc. recently announced the appointment of Bob McCabe as Branch Manager and Senior Director of Investments at its Palm Beach Gardens office. With over 35 years of financial services experience, McCabe aims to enhance asset management and profitability. This addition strengthens the leadership team overseeing 41 advisors managing nearly $3 billion in assets. McCabe's previous roles included Managing Director at Fieldpoint Private and key positions at Morgan Stanley and Smith Barney. His extensive background positions him well to drive future growth at Oppenheimer.