Oppenheimer Holdings Inc Stock Research

Market Summary

USD39.21+3.19

Market Closed

8.86%

OPY Alerts

Big jump in Earnings (Y/Y)

OPY Stock Price

OPY RSI Chart

OPY Valuation

Market Cap

434.3M

Price/Earnings (Trailing)

11.53

Price/Sales (Trailing)

0.37

EV/EBITDA

3.43

Price/Free Cashflow

3.84

OPY Price/Sales (Trailing)

OPY Profitability

EBT Margin

9.22%

Return on Equity

4.07%

Return on Assets

1.19%

Free Cashflow Yield

26.06%

OPY Fundamentals

OPY Revenue

Revenue (TTM)

1.2B

Revenue Y/Y

20.92%

Revenue Q/Q

2.58%

OPY Earnings

Earnings (TTM)

37.7M

Earnings Y/Y

57.31%

Earnings Q/Q

-34.78%

Price Action

52 Week Range

28.2949.32

(Low)(High)

Last 7 days

5.2%

Last 30 days

3.8%

Last 90 days

-12.1%

Trailing 12 Months

10.7%

OPY Financial Health

Debt/Equity

0.16

Debt/Cashflow

0.08

OPY Investor Care

Dividend Yield

1.53%

Dividend/Share (TTM)

0.6

Buy Backs (1Y)

9.63%

Diluted EPS (TTM)

3.06

Peers (Alternatives to Oppenheimer Holdings)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
GS	107.8B	39.0B	-4.89%	1.22%	10.21	2.76	-18.28%	-43.67%
SCHW	99.6B	21.2B	1.70%	-23.94%	13.86	4.8	14.77%	27.91%
BLK	98.6B	17.4B	-0.82%	1.13%	20.12	5.66	-11.48%	-20.19%
RJF	19.1B	12.0B	0.66%	-7.92%	11.41	1.6	11.08%	11.36%
MKTX	10.3B	735.4M	-14.14%	-2.76%	39.61	13.95	6.65%	6.97%
MID-CAP
IBKR	8.5B	3.5B	0.06%	25.50%	4.63	3.18	133.79%	12.59%
SEIC	7.5B	1.9B	-3.71%	-2.48%	19.23	4.01	-8.09%	-35.44%
SF	6.6B	4.7B	-6.53%	-13.40%	9.92	1.43	-0.66%	-21.72%
SNEX	1.7B	64.5B	-19.20%	6.95%	7.56	0.03	22.22%	49.25%
SMALL-CAP
PIPR	1.9B	1.4B	-3.13%	-2.47%	18.96	1.37	-29.57%	-62.49%
VIRT	1.7B	2.3B	-8.86%	-32.68%	6.27	0.75	-8.65%	-30.67%
COWN	1.1B	1.5B	0.39%	32.10%	14.3	0.71	-27.22%	-74.14%
AC	810.8M	16.9M	-1.07%	-6.64%	-54.17	48.01	-24.32%	-161.15%
OPY	434.3M	1.2B	3.84%	10.70%	11.53	0.37	-9.34%	-70.93%
GHL	265.1M	262.7M	115.80%	21.56%	-33.4	1.01	-10.67%	-128.23%

Financials for Oppenheimer Holdings

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	5.0%	1,167	1,111	1,162	1,184	1,287
Operating Expenses	4.8%	1,116	1,065	1,055	1,046	1,100
EBITDA	-16.5%	130	156	133	-	-
EBITDA Margin	-14.9%	0.11*	0.13*	0.10*	-	-
EBT Margin	-20.5%	0.09*	0.12*	0.09*	-	-
Interest Expenses	44.6%	34.00	24.00	15.00	11.00	10.00
Net Income	16.5%	38.00	32.00	73.00	95.00	130
Net Income Margin	-53.5%	0.03*	0.06*	0.08*	0.10*	-
Free Cahsflow	1768.3%	48.00	-2.89	-27.56	59.00	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	7.6%	2,920	2,714	2,856	2,921	3,019
Cash Equivalents	-73.0%	30.00	112	37.00	37.00	47.00
Net PPE	4.5%	38.00	37.00	34.00	27.00	29.00
Goodwill	0%	138	138	138	138	138
Liabilities	10.6%	2,094	1,894	1,956	2,011	2,075
Shareholder's Equity	0.8%	800	794	771	780	817
Retained Earnings	1.7%	777	764	744	743	748
Additional Paid-In Capital	-21.8%	22.00	29.00	26.00	35.00	40.00
Accumulated Depreciation	0.9%	99.00	98.00	98.00	96.00	95.00
Shares Outstanding	1.0%	11.00	11.00	11.00	11.00	12.00
Minority Interest	-40.0%	0.00	1.00	2.00	2.00	3.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	102.4%	131	64.00	9.00	-23.72	68.00
Share Based Compensation	-5.7%	15.00	16.00	5.00	2.00	23.00
Cashflow From Investing	-3.4%	-14.62	-14.14	-11.19	-1.95	-7.76
Cashflow From Financing	7.4%	-235	-253	26.00	150	86.00
Dividend Payments	-3.1%	7.00	7.00	20.00	20.00	20.00
Buy Backs	-20.6%	48.00	61.00	63.00	54.00	24.00

Risks for OPY

What is the probability of a big loss on OPY?

66.5%

Probability that Oppenheimer Holdings stock will be more than 20% underwater in next one year

38.9%

Probability that Oppenheimer Holdings stock will be more than 30% underwater in next one year.

23.5%

Probability that Oppenheimer Holdings stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does OPY drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Oppenheimer Holdings was unfortunately bought at previous high price.

Drawdowns

Returns for OPY

Cumulative Returns on OPY

9.6%

10-Year Cumulative Returns

16.8%

7-Year Cumulative Returns

9.4%

5-Year Cumulative Returns

26.6%

3-Year Cumulative Returns

What are the long-term rolling returns for OPY?

FIve years rolling returns for Oppenheimer Holdings.

Annualized Returns

Which funds bought or sold OPY recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-25	Brandywine Global Investment Management, LLC	added	971	2,090,020	2,324,570	0.01%
2023-05-22	AMERIPRISE FINANCIAL INC	added	4.36	-81,000	2,256,000	-%
2023-05-18	JPMORGAN CHASE & CO	added	31.04	42,000	242,000	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	added	3.23	-30,000	625,000	-%
2023-05-16	HANCOCK WHITNEY CORP	reduced	-6.74	-50,000	319,000	0.01%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	added	56.2	332,235	1,079,440	-%
2023-05-15	Covestor Ltd	reduced	-76.36	-8,000	2,000	-%
2023-05-15	MetLife Investment Management, LLC	unchanged	-	-14,873	183,104	-%
2023-05-15	CONCOURSE FINANCIAL GROUP SECURITIES, INC.	sold off	-	-	-	-%
2023-05-15	Legal & General Group Plc	unchanged	-	-2,420	29,793	-%

Latest Funds Activity

Are funds buying OPY calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own OPY

No. of Funds

OPY Alerts

Big jump in Earnings (Y/Y)

Oppenheimer Holdings News

Schedule 13G FIlings of Oppenheimer Holdings

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 01, 2023	blackrock inc.	5.7%	614,640	SC 13G/A
Feb 01, 2022	blackrock inc.	5.7%	713,370	SC 13G/A
Sep 23, 2021	propp morris	0.88%	29	SC 13G/A
Jun 25, 2021	propp morris	0.66%	29	SC 13G
Jan 29, 2021	blackrock inc.	5.6%	693,979	SC 13G/A
Feb 05, 2020	blackrock inc.	5.7%	718,249	SC 13G/A

OPY Fair Value

Show Fair-Value

Recent SEC filings of Oppenheimer Holdings

View All Filings

Date Filed	Form Type	Document
May 31, 2023	SC TO-I	SC TO-I
May 09, 2023	8-K	Current Report
May 01, 2023	8-K	Current Report
Apr 28, 2023	8-K	Current Report
Apr 28, 2023	10-Q	Quarterly Report
Mar 17, 2023	DEF 14A	DEF 14A
Mar 14, 2023	ARS	ARS
Mar 06, 2023	4	Insider Trading
Mar 03, 2023	10-K/A	Annual Report
Feb 28, 2023	10-K	Annual Report

Latest Insider Trading transactions for OPY

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-03	McNAMARA DENNIS P	sold	-539,761	44.5348	-12,120	secretary
2023-01-30	LOWENTHAL ALBERT G	acquired	-	-	4,454	ceo
2023-01-29	Lowenthal Robert S	acquired	-	-	2,978	-
2023-01-29	LOWENTHAL ALBERT G	acquired	-	-	25,771	ceo
2023-01-29	McNAMARA DENNIS P	acquired	-	-	2,081	secretary
2023-01-26	Dwyer Timothy Martin	acquired	-	-	2,500	-
2023-01-26	BEHRENS EVAN	acquired	-	-	2,500	-
2023-01-26	Friedman Paul M	acquired	-	-	2,500	-
2023-01-26	ROTH R LAWRENCE	acquired	-	-	2,500	-
2023-01-26	EHRHARDT WILLIAM	acquired	-	-	2,500	-

About Oppenheimer Holdings

Albert G. Lowenthal

www.opco.com

2910

Oppenheimer Holdings Inc., through its subsidiaries, operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company offers brokerage services covering exchange-traded and over-the-counter corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services. It also provides asset management services, including separately managed accounts, mutual fund managed accounts, discretionary portfolio management programs, non-discretionary investment advisory and consultation services, alternative investments, portfolio enhancement programs, and institutional taxable fixed income portfolio management strategies and solutions, as well as taxable and non-taxable fixed income portfolios and strategies. In addition, the company offers investment banking services, such as strategic advisory services and capital markets products; merger and acquisition, equities capital market, and debt capital market products and services; and institutional equity sales and trading, equity research, equity derivatives and index options, convertible bonds, and trading services. Further, it provides institutional fixed income sales and trading, fixed income research, public finance, and municipal trading services; repurchase agreements and securities lending services; and proprietary trading and investment activities. Additionally, the company offers underwritings, market-making, trust, and discount services. It serves high-net-worth individuals and families, corporate executives, public and private businesses, institutions and corporations, governments, financial sponsors, and domestic and international investors. Oppenheimer Holdings Inc. was founded in 1881 and is headquartered in New York, New York.

OPY Income Statement

2023-03-31

CONDENSED CONSOLIDATED INCOME STATEMENTS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
REVENUE
Commissions	$ 86,697	$ 98,321
Advisory fees	100,544	115,766
Investment banking	37,965	38,470
Bank deposit sweep income	48,909	4,354
Interest	24,941	9,517
Principal transactions, net	13,490	2,364
Other	9,133	(2,764)
Total revenue	321,679	266,028
EXPENSES
Compensation and related expenses	206,292	186,031
Communications and technology	22,440	21,585
Occupancy and equipment costs	15,901	14,690
Clearing and exchange fees	6,263	5,976
Interest	13,142	2,512
Other	38,592	21,021
Total expenses	302,630	251,815
Pre-tax income	19,049	14,213
Income taxes provision	4,585	4,435
Net income	14,464	9,778
Net income (loss) attributable to noncontrolling interest, net of tax	(153)	486
Net income attributable to Oppenheimer Holdings Inc.	$ 14,617	$ 9,292
Earnings per share attributable to Oppenheimer Holdings Inc.
Basic (in dollars per share)	$ 1.32	$ 0.75
Diluted (in dollars per share)	$ 1.22	$ 0.69
Weighted average shares outstanding
Basic (in shares)	11,092,603	12,467,632
Diluted (in shares)	11,963,492	13,499,334
Period end shares outstanding (in shares)	11,075,388	12,255,839

OPY Balance Sheet

2023-03-31

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 30,320	$ 112,433
Deposits with clearing organizations	69,305	77,691
Restricted cash	25,581	25,534
Receivable from brokers, dealers and clearing organizations	361,039	206,077
Receivable from customers, net of allowance for credit losses of $347 ($350 in 2022)	1,054,316	1,202,764
Income tax receivable	5,374	0
Securities owned, including amounts pledged of $337,810 ($175,724 in 2022), at fair value	762,154	498,594
Notes receivable, net	63,649	57,495
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $98,662 ($97,751 in 2022)	38,398	36,742
Right-of-use lease assets, net of accumulated amortization of $86,943 ($82,449 in 2022)	152,773	142,630
Goodwill	137,889	137,889
Intangible assets	32,100	32,100
Other assets	187,309	184,443
Total assets	2,920,207	2,714,392
Liabilities
Drafts payable	18,024	0
Bank call loans	19,300	0
Payable to brokers, dealers and clearing organizations	635,970	550,006
Payable to customers	458,588	456,475
Securities sold under agreements to repurchase	280,436	161,009
Securities sold but not yet purchased, at fair value	110,657	52,768
Accrued compensation	155,984	239,136
Income tax payable	4,232	4,130
Accounts payable and other liabilities	68,250	102,202
Lease liabilities	193,350	182,570
Senior secured notes, net of debt issuance costs of $556 ($616 in 2022)	112,494	113,434
Deferred tax liabilities, net of deferred tax assets of $52,957 ($55,628 in 2022)	36,507	32,241
Total liabilities	2,093,792	1,893,971
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests	25,557	25,466
Stockholders' equity
Common stock ($0.001 par value per share): Class A: shares authorized: 50,000,000; shares issued and outstanding: 10,975,723 and 10,868,556 as of March 31, 2023 and December 31, 2022, respectively Class B: shares authorized, issued and outstanding: 99,665 as of March 31, 2023 and December 31, 2022	11	11
Additional paid-in capital	22,374	28,628
Retained earnings	777,121	764,178
Accumulated other comprehensive income	919	1,416
Total Oppenheimer Holdings Inc. stockholders' equity	800,425	794,233
Noncontrolling interest (Note 2)	433	722
Total Stockholders' equity	800,858	794,955
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders' Equity	$ 2,920,207	$ 2,714,392