Oppenheimer Hld Stock Price, News & Analysis

Oppenheimer Holdings reported a net income of $9.3 million or $0.75 per share for Q1 2022, down 76% from $38.7 million or $3.07 per share in Q1 2021. Revenue fell by 28.7% to $266 million, primarily due to a downturn in equity capital market issuance influenced by COVID-19, rising interest rates, and geopolitical tensions. Despite lower capital market revenues, Wealth Management showed resilience with strong AUM and sustained net investor flows. The company repurchased 377,313 shares during the quarter. The board declared a dividend of $0.15 per share payable on May 27, 2022.

Oppenheimer & Co. Inc. has launched the Investor Gateway, a comprehensive wealth management platform designed to enhance advisor-client experiences. This new technology, developed in collaboration with InvestCloud, allows seamless account openings and improves service delivery through behavioral science insights. The platform offers robust digital tools, including a bi-directional document vault and enhanced onboarding processes. Executives emphasize that the Gateway significantly upgrades the firm's service capabilities, enabling advisors to personalize client engagement and improve the client journey.

Oppenheimer & Co. Inc. announced the launch of its 32nd annual Healthcare Conference, running virtually from March 15-17, 2022. The event anticipates over 280 companies, highlighting trends and investment opportunities in the healthcare sector. Notable speakers include industry leaders from Marwood Group and healthcare analysts from Oppenheimer. The firm's healthcare investment banking achieved record results in 2021, with a 17% increase in bookrun deal volume and 40 closed M&A deals worth $7.1 billion over three years.

Oppenheimer & Co. Inc. has opened a new office in Nashville, Tennessee, as part of its growth initiative. Phil Hall has been appointed Branch Manager to lead the wealth management expansion in this rapidly growing market. Nashville's population grew over 20% in the last decade, making it an attractive location due to its robust economy and skilled workforce. The firm aims to leverage these dynamics to attract local talent and enhance its wealth management services, following a successful 2021 with record assets under management.

On March 2, 2022, Oppenheimer & Co. Inc. announced the launch of its Municipal Restructuring Group, spearheaded by Eric Scroggins and Bill Reisner. This group aims to support borrowers and lenders in the distressed debt market amid rising municipal bond defaults. The initiative comes as the pandemic has significantly impacted financial assumptions for municipal issuers. Oppenheimer's comprehensive offerings will include advisory services across all stages of the municipal bond lifecycle, enhancing its position as a top provider in public finance.

Oppenheimer Holdings announced a new share repurchase program allowing the buyback of up to 518,000 shares of its Class A non-voting common stock, approximately 4.1% of its outstanding shares. This program adds to an existing authorization of 12,407 shares, bringing the total to 530,407 shares. The buyback will be executed at prevailing market prices using cash on hand, with no obligation on the company to repurchase any specific amount. The program will continue indefinitely, subject to market conditions.

Oppenheimer & Co. has appointed Jason Fenton as Co-Head of Healthcare Equity Capital Markets, enhancing its Healthcare Investment Banking practice. Fenton, with over 20 years of experience, joins from Cowen and Company, where he raised significant capital for healthcare sectors. His role will leverage strong relationships with corporate issuers and institutional investors as Oppenheimer's healthcare division sees substantial growth. The firm recorded a 36% increase in M&A deal volume in 2021 and plans to hold its 32nd Annual Healthcare Conference in March.

Oppenheimer Holdings reported a net income of $62.9 million ($4.99 per share) for Q4 2021, a decrease from $81.9 million ($6.56 per share) in Q4 2020. Revenue fell by 13.7% to $365.1 million, affected by a $109.4 million drop in incentive fee income. For the full year 2021, net income rose to $159 million ($12.57 per share), with revenue increasing by 16.3% to $1.4 billion. Capital Markets saw a record performance, although significant legal and regulatory costs rose in Q4 2021.

Oppenheimer Holdings Inc. (NYSE: OPY) announced a special cash dividend of $1.00 per share, to be paid on December 31, 2021, to shareholders on record by December 27, 2021. The total payout will be approximately $12.5 million and will be funded through existing cash. Additionally, the company has increased its quarterly dividend by 25% to $0.15 per share starting in Q2 2021. CEO Albert G. Lowenthal expressed confidence in the company’s strong operating results despite recent market challenges.