Welcome to our dedicated page for Oppenheimer Holdings news (Ticker: OPY), a resource for investors and traders seeking the latest updates and insights on Oppenheimer Holdings stock.
Oppenheimer Holdings, Inc. (NYSE: OPY) is a premier investment bank and full-service broker-dealer dedicated to providing comprehensive financial solutions. With over 3,500 investment professionals strategically located across North America, the U.K., Israel, and Asia, Oppenheimer stands as a global leader in the financial sector.
The company operates through three primary segments: Private Client, Asset Management, and Capital Markets. The Private Client segment offers an array of services such as securities brokerage, advisory services, and wealth management, targeting high-net-worth individuals and families. It boasts approximately 1,400 financial advisors across more than 90 branches in the United States, making it one of the largest independent investment banks based on the number of registered representatives.
In the Asset Management segment, Oppenheimer provides investment advisory services, leveraging its expertise to manage assets on behalf of institutional investors, corporations, and private clients. The Capital Markets segment engages in institutional sales and trading, investment banking, market-making, and research, catering to corporate, governmental, and institutional clients globally.
Recent achievements include the significant expansion of its Cash Equity Sales & Trading desk, highlighted by the addition of a Program Trading team from Credit Suisse led by industry veterans Christopher Johnson and Matthew H. Friedman. In addition, Oppenheimer reported a notable increase in net income of 206.7% in Q3 2023, reflecting strong performance across its business units amidst a resilient economy and stable inflation.
The company continues to strengthen its commitment to public finance, highlighted by the recruitment of Elizabeth Coolidge as Head of Public Finance. This move, along with the appointment of other key professionals, underscores Oppenheimer's dedication to enhancing its municipal finance capabilities.
Oppenheimer is committed to delivering top-quality advice and execution, supported by a robust balance sheet and strategic capital investments. The firm remains well-positioned to capitalize on market opportunities, providing exceptional service and value to its clients.
Oppenheimer & Co. Inc., a subsidiary of Oppenheimer Holdings (NYSE: OPY), has expanded its Miami presence by opening a new office in Coral Gables. This strategic move aims to enhance the firm's ability to serve both domestic and international clients in a rapidly growing financial hub. The new facility can accommodate over 30 financial advisors, providing necessary capacity for future growth. It replaces Oppenheimer's previous Coconut Grove location. The firm's investment solutions and expertise in capital markets are highlighted, demonstrating significant asset management growth since February 2020, outperforming the S&P 500 by over 50%.
Oppenheimer & Co. has successfully closed a Series C funding round for UK-based Perspectum, raising a total of $55 million. Oppenheimer invested $27 million through its Private Market Opportunities initiative, facilitating investment in emerging growth companies. This marks the fifth deal since 2017 under the initiative, which has raised approximately $250 million overall. The funds will support Perspectum's mission to innovate non-invasive imaging technologies for better patient care. The partnership reflects Oppenheimer's commitment to investing in healthcare advancements that could significantly improve the diagnostic journey for patients.
Oppenheimer & Co. Inc. announces its 33rd Annual Healthcare Conference taking place virtually from March 13-15, 2023. The event will showcase over 225 public and private healthcare companies across sectors such as pharmaceuticals, biotechnology, and medical devices. With a strong commitment to facilitating investor discussions, Oppenheimer's Healthcare Investment Banking team has successfully raised over $6.4 billion in transactions since March 2017. Participants can expect engaging presentations and insights about emerging technologies and market strategies from top analysts in healthcare.
Oppenheimer & Co. Inc. announced the expansion of its Investment Grade desk with the hiring of three Managing Directors: Perren Thomas, Dennis Megley, and Mike Henneberry. This strategic move aims to enhance expertise and strengthen relationships in fixed income sales. Thomas, with nearly 20 years of experience, joins from D.A. Davidson, while Megley brings over 35 years from firms like Cantor Fitzgerald and Bear Stearns. Henneberry, a veteran with over 30 years in the industry, previously worked at B. Riley Financial. The firm's continued focus on attracting top talent aims to increase its market share in the U.S. investment grade corporate bond market.
Oppenheimer Holdings reported a net income of $22.4 million or $2.04 per share for Q4 2022, down from $62.9 million or $4.99 per share in Q4 2021. Revenue decreased 14.1% to $313.6 million in Q4 2022 compared to $365.1 million a year prior. For the full year, net income was $32.4 million or $2.77 per share, down 79.6% from $159.0 million or $12.57 per share in 2021. Total revenue for 2022 fell 20.3% to $1.1 billion. The decrease is attributed to lower transaction activity and valuations, partially offset by bank deposit sweep income from rising interest rates.
Oppenheimer Holdings has announced a new share repurchase program, allowing the purchase of up to 543,000 shares of its Class A non-voting common stock, about 5% of the total outstanding shares. This program adds to the previous authorization of 144,034 shares, totaling 687,034 shares available for repurchase. The repurchases will be executed in the open market using available cash, aligning with regulatory requirements. Oppenheimer emphasizes that the timing and volume of repurchases will depend on market conditions and does not obligate the company to buy a specific number of shares.
Oppenheimer & Co. has appointed Kevin Monaco as Managing Director and Regional Director for its Private Client Division in Southern California. Based in the Los Angeles office, Monaco brings significant experience, having previously served roles at D.A. Davidson, Wells Fargo, and Morgan Stanley. His expertise in recruiting advisory talent and understanding market dynamics positions him to enhance Oppenheimer's services for wealth management. This strategic hire aims to further establish Oppenheimer's presence in a competitive market.
Oppenheimer has appointed Rabi Karki as Head of Asset Management & Wealth Management for EMEA. Based in London, Karki brings over 20 years of experience, including roles at Barclays and J.P. Morgan. He will collaborate with U.S. counterparts to enhance Oppenheimer's financial advisory services. CEO Max Lami highlighted Karki's industry insights and potential to provide value to clients. This appointment is expected to strengthen Oppenheimer's presence in the asset management sector across Europe and beyond.
Oppenheimer & Co. Inc. will host its fifth annual Blockchain and Digital Assets Summit on November 17, 2022, a virtual event showcasing key participants in the blockchain sector. Notable companies attending include Blockchain.com, Coinbase, and Fidelity Digital Assets. Analysts Timothy Horan and Owen Lau emphasize the transformative potential of blockchain in creating new internet access and decentralized finance opportunities. The Summit will feature discussions on trends in DeFi, NFTs, payments, capital markets, and regulatory aspects, aimed at facilitating industry dialogue.
Oppenheimer & Co. Inc. announced the successful recruitment of the Meridian Wealth Group, expanding its Nashville office, which opened in March 2022. Led by industry veteran John Wade, the addition aims to enhance services for high-net-worth clients in a rapidly growing market. The Meridian team emphasizes customized solutions and client-focused service. Oppenheimer is committed to providing these new partners with tools and resources for long-term growth, reflecting its dedication to expanding its footprint in economically vibrant areas.
FAQ
What is the current stock price of Oppenheimer Holdings (OPY)?
What is the market cap of Oppenheimer Holdings (OPY)?
What services does Oppenheimer Holdings, Inc. provide?
Where is Oppenheimer Holdings, Inc. headquartered?
How many financial advisors does Oppenheimer have?
What are the recent achievements of Oppenheimer Holdings, Inc.?
What are the main segments of Oppenheimer's business?
Who are the new key hires in Oppenheimer's Public Finance team?
What is Oppenheimer’s presence in the global market?
How does Oppenheimer support its high-net-worth clients?
What is the significance of Oppenheimer's Cash Equity Sales & Trading desk expansion?
How did Oppenheimer perform financially in Q3 2023?
