Announcement • Jun 28
Oppenheimer Holdings Inc. and Affiliates Reaches $70 Million Proposed Settlement in Oppenheimer Cash Sweep Litigation Robbins Geller Rudman & Dowd LLP announced that Court-appointed Class Representative, Liberty Capital Group, on behalf of itself and all members of the Class, and Oppenheimer & Co. Inc., have reached a proposed settlement of the claims in the above-captioned class action in the amount of $70,000,000. A hearing will be held before the Honorable Jed S. Rakoff on September 17, 2026, at 4:00 p.m., in Courtroom 14B of the United States District Court for the Southern District of New York, to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement to Class Members; and (iv) approve Class Counsel's Fee and Expense Application. If you are a member of the Class, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than September 17, 2026. If you are a member of the Class and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable. If you are a member of the Class and wish to exclude yourself from the Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Notice so that it is received no later than August 27, 2026. Any objections to the proposed Settlement, Class Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice, such that they are received no later than August 27, 2026. Reported Earnings • May 05
First quarter 2026 earnings released: US$1.93 loss per share (vs US$2.93 profit in 1Q 2025) First quarter 2026 results: US$1.93 loss per share (down from US$2.93 profit in 1Q 2025). Revenue: US$426.4m (up 23% from 1Q 2025). Net loss: US$20.6m (down 167% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Live News • May 04
Oppenheimer Holdings Reports Q1 Net Loss With Strong Revenue Growth and Dividend Boost Oppenheimer Holdings reported a Q1 2026 net loss of $20.6m, primarily tied to a $70m pre-tax accrual for settling litigation involving its “cash sweep” program and a $22.3m pre-tax expense for stock appreciation rights.
Revenue for Q1 2026 was $445.1m, with the company citing strong contributions from Wealth Management and Capital Markets, including very large growth in investment banking fees and a 53.4% rise in capital markets revenue.
On an adjusted basis, excluding special items, Oppenheimer recorded Q1 2026 net income of $47.5m with adjusted basic EPS of $4.46, and the Board raised the quarterly dividend by 11.1% to $0.20 per share, payable on May 29, 2026.
For investors, the quarter highlights a clear split between reported and adjusted results. The legal settlement accrual and stock appreciation rights expense were large enough to swing the company into a net loss, even though the underlying business generated positive adjusted earnings. The litigation relates to Oppenheimer’s “cash sweep” program, and the $70m pre-tax accrual signals an effort to address that issue directly.
Revenue of $445.1m, with strong contributions from Wealth Management and Capital Markets, suggests that fee-based and transaction-driven activities played an important role in Q1. The 142.7% surge in investment banking fees and 53.4% rise in capital markets revenue show where momentum was concentrated inside the business. The dividend increase to $0.20 per share indicates that the Board is returning more cash to shareholders while absorbing higher expenses from the quarter’s one-off items. Declared Dividend • May 04
Dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 15th May 2026 Payment date: 29th May 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 5%. Cash payout ratio: 4%. Announcement • May 02
Oppenheimer Holdings Inc. announces Quarterly dividend, payable on May 29, 2026 Oppenheimer Holdings Inc. announced Quarterly dividend of USD 0.2000 per share payable on May 29, 2026, ex-date on May 15, 2026 and record date on May 15, 2026. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$105, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 39x in the Capital Markets industry in the US. Total returns to shareholders of 202% over the past three years. Recent Insider Transactions • Mar 06
Executive VP recently sold US$424k worth of stock On the 2nd of March, Dennis McNamara sold around 5k shares on-market at roughly US$90.67 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.2m more than they bought in the last 12 months. Announcement • Mar 04
Oppenheimer Holdings Inc., Annual General Meeting, May 04, 2026 Oppenheimer Holdings Inc., Annual General Meeting, May 04, 2026. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: US$14.13 (vs US$6.91 in FY 2024) Full year 2025 results: EPS: US$14.13 (up from US$6.91 in FY 2024). Revenue: US$1.55b (up 15% from FY 2024). Net income: US$148.4m (up 107% from FY 2024). Profit margin: 9.6% (up from 5.3% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$90.53, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 23x in the Capital Markets industry in the US. Total returns to shareholders of 107% over the past three years. Declared Dividend • Feb 04
Dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 13th February 2026 Payment date: 27th February 2026 Dividend yield will be 1.9%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (5% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 7.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 01
Full year 2025 earnings released: EPS: US$14.13 (vs US$6.91 in FY 2024) Full year 2025 results: EPS: US$14.13 (up from US$6.91 in FY 2024). Revenue: US$1.55b (up 15% from FY 2024). Net income: US$148.4m (up 107% from FY 2024). Profit margin: 9.6% (up from 5.3% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Jan 30
Oppenheimer Holdings Inc. Announces Quarterly Dividend for the Fourth Quarter of 2025, Payable on February 27, 2026 The Board of Directors of Oppenheimer Holdings Inc. announced a quarterly dividend in the amount of $0.18 per share for the fourth quarter of 2025 payable on February 27, 2026 to holders of Class A non-voting and Class B voting common stock of record on February 13, 2026. Upcoming Dividend • Dec 19
Upcoming dividend of US$1.00 per share Eligible shareholders must have bought the stock before 26 December 2025. Payment date: 09 January 2026. Payout ratio is a comfortable 8.9% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.9%). Announcement • Dec 13
Oppenheimer Holdings Inc. Declares Special Dividend on OPY Class A Non-Voting and Class B Voting Common Stock, Payable January 9, 2026 Oppenheimer Holdings Inc. announced that its Board of Directors has declared a special cash dividend on OPY Class A non-voting and Class B voting common stock of $1.00 per share, to shareholders of record as of the close of business on December 26, 2025. The aggregate payment will be approximately $10.5 million. The special dividend will be funded through OPY's existing cash management activities. Declared Dividend • Nov 03
Third quarter dividend of US$0.18 announced Dividend of US$0.18 is the same as last year. Ex-date: 14th November 2025 Payment date: 28th November 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 02
Third quarter 2025 earnings released: EPS: US$2.06 (vs US$2.37 in 3Q 2024) Third quarter 2025 results: EPS: US$2.06 (down from US$2.37 in 3Q 2024). Revenue: US$401.9m (up 15% from 3Q 2024). Net income: US$21.7m (down 11% from 3Q 2024). Profit margin: 5.4% (down from 7.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Nov 01
Oppenheimer Holdings Inc. Announces Quarterly Dividend, Payable on November 28, 2025 The Board of Directors of Oppenheimer Holdings Inc. announced a quarterly dividend of $0.18 per share payable on November 28, 2025 to holders of Class A non-voting and Class B voting common stock of record on November 14, 2025. Recent Insider Transactions • Aug 07
Executive VP recently sold US$148k worth of stock On the 5th of August, Dennis McNamara sold around 2k shares on-market at roughly US$73.81 per share. This transaction amounted to 8.4% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$443k. Insiders have been net sellers, collectively disposing of US$805k more than they bought in the last 12 months. Declared Dividend • Aug 04
Second quarter dividend of US$0.18 announced Dividend of US$0.18 is the same as last year. Ex-date: 15th August 2025 Payment date: 29th August 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 03
Second quarter 2025 earnings released: EPS: US$2.06 (vs US$0.99 in 2Q 2024) Second quarter 2025 results: EPS: US$2.06 (up from US$0.99 in 2Q 2024). Revenue: US$350.6m (up 14% from 2Q 2024). Net income: US$21.7m (up 111% from 2Q 2024). Profit margin: 6.2% (up from 3.3% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 01
Oppenheimer Holdings Inc. Declares Quarterly Dividend of Class A Non-Voting and Class B Voting Common Stock, Payable on August 29, 2025 The Board of Directors of Oppenheimer Holdings Inc. announced a quarterly dividend of $0.18 per share payable on August 29, 2025 to holders of Class A non-voting and Class B voting common stock of record on August 15, 2025. Buy Or Sell Opportunity • Jul 03
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to US$67.77. The fair value is estimated to be US$55.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has declined by 2.8%. Recent Insider Transactions • Jun 10
Lead Independent Director recently sold US$189k worth of stock On the 6th of June, Paul Friedman sold around 3k shares on-market at roughly US$63.11 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$522k more than they bought in the last 12 months. Declared Dividend • Apr 28
First quarter dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 9th May 2025 Payment date: 23rd May 2025 Dividend yield will be 1.2%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (10% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: US$2.93 (vs US$2.50 in 1Q 2024) First quarter 2025 results: EPS: US$2.93 (up from US$2.50 in 1Q 2024). Revenue: US$346.4m (up 4.2% from 1Q 2024). Net income: US$30.7m (up 18% from 1Q 2024). Profit margin: 8.8% (up from 7.8% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Announcement • Apr 26
Oppenheimer Holdings Inc. announces Quarterly dividend, payable on May 23, 2025 Oppenheimer Holdings Inc. announced Quarterly dividend of USD 0.1800 per share payable on May 23, 2025, ex-date on May 09, 2025 and record date on May 09, 2025. Announcement • Mar 17
Oppenheimer Holdings Inc., Annual General Meeting, May 05, 2025 Oppenheimer Holdings Inc., Annual General Meeting, May 05, 2025. Reported Earnings • Mar 03
Full year 2024 earnings released: EPS: US$6.91 (vs US$2.81 in FY 2023) Full year 2024 results: EPS: US$6.91 (up from US$2.81 in FY 2023). Revenue: US$1.34b (up 14% from FY 2023). Net income: US$71.6m (up 137% from FY 2023). Profit margin: 5.3% (up from 2.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Declared Dividend • Feb 03
Fourth quarter dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 14th February 2025 Payment date: 28th February 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 31
Full year 2024 earnings released: EPS: US$6.91 (vs US$2.81 in FY 2023) Full year 2024 results: EPS: US$6.91 (up from US$2.81 in FY 2023). Revenue: US$1.34b (up 14% from FY 2023). Net income: US$71.6m (up 137% from FY 2023). Profit margin: 5.3% (up from 2.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Jan 31
Oppenheimer Holdings Inc. Announces Quarterly Dividend, Payable on February 28, 2025 The Board of Directors of Oppenheimer Holdings Inc. announced a quarterly dividend in the amount of $0.18 per share for the fourth quarter of 2024 payable on February 28, 2025 to holders of Class A non-voting and Class B voting common stock of record on February 14, 2025. Declared Dividend • Oct 28
Third quarter dividend of US$0.18 announced Shareholders will receive a dividend of US$0.18. Ex-date: 8th November 2024 Payment date: 22nd November 2024 Dividend yield will be 1.2%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (9% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: US$2.37 (vs US$1.32 in 3Q 2023) Third quarter 2024 results: EPS: US$2.37 (up from US$1.32 in 3Q 2023). Revenue: US$349.2m (up 19% from 3Q 2023). Net income: US$24.5m (up 77% from 3Q 2023). Profit margin: 7.0% (up from 4.7% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Recent Insider Transactions • Aug 02
Executive VP recently sold US$308k worth of stock On the 31st of July, Dennis McNamara sold around 6k shares on-market at roughly US$51.28 per share. This transaction amounted to 22% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$963k more than they bought in the last 12 months. Declared Dividend • Jul 29
Second quarter dividend increased to US$0.18 Dividend of US$0.18 is 20% higher than last year. Ex-date: 9th August 2024 Payment date: 23rd August 2024 Dividend yield will be 1.2%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (11% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 28
Second quarter 2024 earnings released: EPS: US$0.99 (vs US$0.85 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.99 (up from US$0.85 loss in 2Q 2023). Revenue: US$308.6m (up 6.9% from 2Q 2023). Net income: US$10.3m (up US$19.7m from 2Q 2023). Profit margin: 3.3% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jul 27
Oppenheimer Holdings Inc. Announces Quarterly Dividend for the Second Quarter of 2024 Payable on August 23, 2024 Oppenheimer Holdings Inc. announced that Board of Directors announced a $0.03, or 20% increase in the quarterly dividend to $0.18 per share effective for the second quarter of 2024 payable on August 23, 2024 to holders of Class A non-voting and Class B voting common stock of record on August 9, 2024. Recent Insider Transactions • May 12
Independent Director recently sold US$180k worth of stock On the 10th of May, Evan Behrens sold around 4k shares on-market at roughly US$43.65 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$655k more than they bought in the last 12 months. Board Change • May 09
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. Independent Director Suzanne Spaulding was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 29
First quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 9th May 2024 Payment date: 24th May 2024 Dividend yield will be 1.5%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (15% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 27
Oppenheimer Holdings Inc. Announces Quarterly Dividend, Payable on May 24, 2024 The Board of Directors of Oppenheimer Holdings Inc. announced a quarterly dividend in the amount of $0.15 per share payable on May 24, 2024 to holders of Class A non-voting and Class B voting common stock of record on May 10, 2024. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: US$2.50 (vs US$1.32 in 1Q 2023) First quarter 2024 results: EPS: US$2.50 (up from US$1.32 in 1Q 2023). Revenue: US$332.6m (up 7.8% from 1Q 2023). Net income: US$26.1m (up 78% from 1Q 2023). Profit margin: 7.8% (up from 4.7% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Mar 16
Oppenheimer Holdings Inc., Annual General Meeting, May 06, 2024 Oppenheimer Holdings Inc., Annual General Meeting, May 06, 2024, at 16:30 US Eastern Standard Time. Agenda: To elect nine directors; to ratify the appointment of Deloitte & Touche LLP as auditors of the Company for 2024 and authorize the Audit Committee to fix the auditors’ remuneration; to ratify the adoption of the Oppenheimer Holdings Inc. 2024 Incentive Plan; and to transact such other business as is proper at such meeting or any adjournments thereof ?. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: US$2.81 (vs US$2.77 in FY 2022) Full year 2023 results: EPS: US$2.81. Revenue: US$1.18b (up 8.6% from FY 2022). Net income: US$30.2m (down 6.7% from FY 2022). Profit margin: 2.6% (down from 3.0% in FY 2022). Upcoming Dividend • Feb 01
Upcoming dividend of US$0.15 per share at 1.6% yield Eligible shareholders must have bought the stock before 08 February 2024. Payment date: 23 February 2024. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.4%). Declared Dividend • Jan 31
Fourth quarter dividend of US$0.15 announced Dividend of US$0.15 is the same as last year. Ex-date: 8th February 2024 Payment date: 23rd February 2024 Dividend yield will be 1.6%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 27
Oppenheimer Holdings Inc. Announces a Quarterly Dividend for the Fourth Quarter of 2023, Payable on February 23, 2024 The Board of Directors of Oppenheimer Holdings Inc. announced a quarterly dividend in the amount of $0.15 per share for the fourth quarter of 2023 payable on February 23, 2024 to holders of Class A non-voting and Class B voting common stock of record on February 9, 2024. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: US$2.81 (vs US$2.77 in FY 2022) Full year 2023 results: EPS: US$2.81. Revenue: US$1.18b (up 8.6% from FY 2022). Net income: US$30.2m (down 6.7% from FY 2022). Profit margin: 2.6% (down from 3.0% in FY 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: US$1.32 (vs US$0.40 in 3Q 2022) Third quarter 2023 results: EPS: US$1.32 (up from US$0.40 in 3Q 2022). Revenue: US$292.9m (up 2.0% from 3Q 2022). Net income: US$13.9m (up 207% from 3Q 2022). Profit margin: 4.7% (up from 1.6% in 3Q 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Oct 28
Oppenheimer Holdings Inc. Announces Quarterly Dividend, Payable on November 24, 2023 Oppenheimer Holdings Inc. announced its the board of directors announced a quarterly dividend in the amount of $0.15 per share payable on November 24, 2023 to holders of Class A non-voting and Class B voting common stock of record on November 10, 2023. Announcement • Oct 26
Oppenheimer Holdings Inc. Elects Stacy J. Kanter as Director Oppenheimer Holdings Inc. elected Stacy J. Kanter a director of the Company effective October 25, 2023. Ms. Kanter, 64, practiced law for more than 30 years with Skadden, Arps, Slate, Meagher & Flom LLP, where she was a partner from 1993 until December 2018 and Head of the Global Capital Markets practice from 2009 until December 2018 and was Of Counsel from January 2019 until May 2019. Ms. Kanter also chaired Skadden’s Global Diversity and Inclusion Committee. Ms. Kanter was an associate at Skadden from 1984 to 1986 and from 1988 to 1993. Ms. Kanter served as a law clerk to the Honorable Raymond J. Dearie, United States District Court Judge for the Eastern District of New York from 1986 to 1987. Ms. Kanter has served as a member of the board of directors of Applied Therapeutics Inc. since May 2019 and currently serves as the chair of its audit committee and as a member of its nominating and corporate governance committee. Ms. Kanter received her B.S. in Business Administration and Management from the University at Albany School of Business and her J.D. from Brooklyn Law School. She is expected to serve on the Nominating and Corporate Governance Committee and the Compliance Committee of the Company’s Board of Directors and to participate in the Company’s 2014 Incentive Plan with other directors. Recent Insider Transactions • Sep 06
Independent Director recently sold US$480k worth of stock On the 1st of September, Evan Behrens sold around 13k shares on-market at roughly US$38.38 per share. This transaction amounted to 68% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$1.0m more than they bought in the last 12 months. Upcoming Dividend • Aug 03
Upcoming dividend of US$0.15 per share at 1.6% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.6%). New Risk • Aug 01
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.7% net profit margin). Reported Earnings • Jul 28
Second quarter 2023 earnings released: US$0.85 loss per share (vs US$0.32 loss in 2Q 2022) Second quarter 2023 results: US$0.85 loss per share (further deteriorated from US$0.32 loss in 2Q 2022). Revenue: US$288.7m (up 24% from 2Q 2022). Net loss: US$9.40m (loss widened 143% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • Jun 01
Oppenheimer Holdings Inc. (NYSE:OPY) announces an Equity Buyback for $30 million worth of its shares. Oppenheimer Holdings Inc. (NYSE:OPY) announces a share repurchase program. Under the program, the company will repurchase up to $30 million worth of its Class A non-voting common. The shares will be repurchased at a price not greater than $40.00 per Share nor less than $34.00 per Share. The purpose of the offer is to provide liquidity to shareholders. Repurchases will be funded from cash and cash equivalents on hand. The offer will be valid till June 28, 2023. As of May 26, 2023, the company had 10,960,710 shares issued and outstanding. Upcoming Dividend • May 04
Upcoming dividend of US$0.15 per share at 1.6% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (5.1%). Lower than average of industry peers (2.9%). Reported Earnings • Apr 29
First quarter 2023 earnings released: EPS: US$1.32 (vs US$0.74 in 1Q 2022) First quarter 2023 results: EPS: US$1.32 (up from US$0.74 in 1Q 2022). Revenue: US$308.5m (up 17% from 1Q 2022). Net income: US$14.6m (up 57% from 1Q 2022). Profit margin: 4.7% (up from 3.5% in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Recent Insider Transactions • Mar 07
Executive VP recently sold US$540k worth of stock On the 3rd of March, Dennis McNamara sold around 12k shares on-market at roughly US$44.53 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$528k more than they bought in the last 12 months. Reported Earnings • Mar 05
Full year 2022 earnings released: EPS: US$2.77 (vs US$12.57 in FY 2021) Full year 2022 results: EPS: US$2.77 (down from US$12.57 in FY 2021). Net income: US$32.4m (down 80% from FY 2021). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Feb 02
Upcoming dividend of US$0.15 per share at 1.3% yield Eligible shareholders must have bought the stock before 09 February 2023. Payment date: 24 February 2023. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (2.5%). Announcement • Jan 28
Oppenheimer Holdings Inc. Announces Dividend for the Fourth Quarter of 2022, Payable on February 24, 2023 The Board of Directors of Oppenheimer Holdings Inc. announced a quarterly dividend in the amount of $0.15 per share for the fourth quarter of 2022 payable on February 24, 2023 to holders of Class A non-voting and Class B voting common stock of record on February 10, 2023. Reported Earnings • Jan 28
Full year 2022 earnings released: EPS: US$2.77 (vs US$12.57 in FY 2021) Full year 2022 results: EPS: US$2.77 (down from US$12.57 in FY 2021). Revenue: US$1.09b (down 22% from FY 2021). Net income: US$32.4m (down 80% from FY 2021). Profit margin: 3.0% (down from 12% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 4 highly experienced directors. Independent Director Larry Roth was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 03
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 09 November 2022. Payment date: 25 November 2022. Payout ratio is a comfortable 10.0% but the company is not cash flow positive. Trailing yield: 4.5%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.7%).