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Oppenheimer Holdings Inc (OPY)
NYSEFinancialsCapital MarketsSnapshot 2026-06-16
Watch· this week
$106.19-0.80%
Close 2026-06-16 · 1-day change
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
The bottom line
Recent financial performance is weak, and earnings quality is fragile, reported profits aren't backed by cash. Management's recent track record has been steady, but the capital stance is capital unfriendly. The sector backdrop is a headwind, and risk is moderate. Peer multiples imply a price about 39% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk, as it trades below peer multiples while recent financials are weak or earnings quality is fragile. If OPY cuts guidance on the next call, that could be a meaningful negative. This read is provisional.
as of 2026-06-16
Quick facts
- Exchange
- NYSE
- Sector
- Financials
- Industry
- Capital Markets
- Market cap
- $1.15B
- Employees
- 2,947
- IPO date
- 1996-03-29
- Next earnings
- 2026-07-31
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 5 valuation methods, at three horizons. Current price $106.19. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryinexpensive
$173.14consensus
Range $158.68 – $303.85
vs price: -39% below
Method agreement — · 5 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearinexpensive
$372.14consensus
Range $219.34 – $393.12
vs price: -71% below
Method agreement — · 3 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Cheap vs peershigh confidence
At $107 OPY trades at 13× p/e, below its 19× p/e peer median. Our $170 fair value sits above the price; high confidence. Not investment advice.
Multiple (P/E)
12.8x
peer 18.5x · own history —
Premium
0.7x peer
Growth the price needs
-37%
our forecast 16%
Our fair value
$169.58
range $155.08 – $244.69
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
inexpensivecheap — value-trap risk12-month view
What's priced inJustified
The price implies about 39% below a flat-multiple fair value, below our forecast of about 16%. This describes what's priced in, not a forecast of the move.
Low fragilityrisk posture, not a price call
Only weak execution quality — not the full expensive x weak x turbulent stack. Regime (Mania) does not concentrate fragility.
Historical context
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
weakOperating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Financials names rated weak grew net income 56% of the time over the next year (vs 59% for the rest of the cohort, n=3730).
18th pctl · Financials
Earnings quality
fragileOver the trailing year it converted 0.93x of net income into operating cash flow. Historically, Financials names rated fragile grew net income 49% of the time over the next year (vs 60% for the rest of the cohort, n=3541).
24th pctl · Financials
Macro sensitivity
Most sensitive to the broad stock market.
- the broad stock market: This stock moves with the broad market (high beta).
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
Management & capital allocation
stableEarnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Sector context
Intermediate · WeeklySector phase: financials is in growth, with decelerating (~3.2 years in phase).
Sector regime (90d momentum): headwind.Secular epoch: Growth by revenue growth · theme capital-markets/rates.headwind-4.4%sector vs S&P 500, 60d
via XLF
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
AI cycle regime · market-wide
2-axis classifierLong-term · 1–3 yr
Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: neutralProvisional
- Capital allocation
- neutral
- Margin discipline
- neutral
- Balance sheet
- strong
- Post-call reaction
- neutral
A guidance track record builds as the company issues and delivers on guidance.
as of 2026-06-16
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$141.
How much price usually moves either way.
On a bad day, this stock has moved -$320.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $2,122.
Deepest peak-to-trough drop in the last year.
moderateas of 2026-06-16
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-16
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- DownsideHigh confidenceMonthsactive 4d
Watch for revenue growth dropping below its median
Why it matters: A drop in revenue growth could signal a slowdown in the financial sector. This could impact Oppenheimer's performance.
What confirms / what disproves
Confirms:Revenue growth falls below the median of 15% over the last three years.
Disproves:Revenue growth remains at or above the median of 15%.
Sector context
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for OPY yet.
This sector is also watching
- Watch for revenue growth dropping below 10% across major banks
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If sector bellwethers like MS, GS, and SCHW keep beating earnings and guiding higher, the Financials sector momentum should keep lifting OPY and other Financials names. Worth watching these names for early signals.
- If OPY raises forward guidance on the next earnings call (currently NEW as of 2026-05-01), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
Downside triggers
- If OPY cuts guidance on the next call (currently NEW as of 2026-05-01), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If the Fed starts cutting rates from the current 3.62%, that would weigh on OPY and other Financials names, since the sector usually outperforms when rates stay high.
- If sector bellwethers like MS, GS, and SCHW start missing or guiding lower, the Financials tailwind helping OPY and other Financials names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-05-011mo agoItem 2.02
and the related exhibit attached hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information or such exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The…
Earnings preannouncement—
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
-6.3 vs last weeklatest as of 2026-06-16
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.