Oppenheimer
Combines wealth management with middle-market investment banking and capital-markets services.
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Profile
Provides wealth management, investment banking, and capital-markets services for retail and institutional clients. Public Class A shares are non-voting, while all voting Class B shares are held by a company owned by Chairman Albert G. Lowenthal.
Organized into Wealth Management and Capital Markets, its two reportable segments. Across them, the firm provides retail brokerage, trust services, investment advisory and asset management, alongside institutional sales and trading, investment banking, research and market making.
Built from New York brokerage roots and an acquisition-led expansion, the operating firm combines a full-service broker-dealer with a middle-market investment bank serving retail and institutional clients. Cross-firm collaboration between its two segments is an operating emphasis. Public Class A shares are non-voting; all voting Class B shares are held by Phase II Financial, wholly owned by Chairman Albert G. Lowenthal.
Company facts
Categories
Key statistics
Year to date +64.2% · Average volume (30d) 126.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 25, 2026 | Oppenheimer | Initiate | Outperform | ||
| Aug 6, 2026 | Oppenheimer | Target | $180 | $95 | |
| Aug 5, 2026 | Oppenheimer | Reiterate | Outperform | $200 | $180 |
| Jul 21, 2026 | Oppenheimer | Initiate | Perform | ||
| Dec 15, 2025 | Oppenheimer | Target | $57 | $200 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | — | $3.98 | — | — | $454.9M | — | −3.67% |
| May 1, 2026Q1 FY26 | — | $4.21 | — | — | $445.1M | — | −7.71% |
| Jan 30, 2026Q4 FY25 | — | $6.51 | — | — | $472.6M | — | +6.00% |
| Oct 31, 2025Q3 FY25 | — | $1.90 | — | — | $424.4M | — | −3.91% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $367.8M | $373.2M | $424.4M | $472.6M | $445.1M | $454.9M | |
| Gross profit | $133.0M | $127.1M | $127.4M | $466.4M | $420.0M | $427.7M | |
| Operating income | $90.8M | $85.3M | $85.5M | $126.1M | −$8.3M | $59.3M | |
| Net income | $30.7M | $21.7M | $21.7M | $74.4M | −$20.6M | $27.4M | |
| Diluted EPS | $2.72 | $1.91 | $1.90 | $6.51 | −$1.93 | $2.38 | |
| Gross margin | 36.2% | 34.0% | 30.0% | 98.7% | 94.4% | 94.0% | |
| Operating margin | 24.7% | 22.9% | 20.1% | 26.7% | -1.9% | 13.0% |
Fiscal years (4-quarter sums)FY21 $1.39B · FY22 $1.11B · FY23 $1.25B · FY24 $1.43B · FY25 $1.64B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $38.5M · Total debt $891.7M · Total assets $4.23B · Shareholders' equity $983.4M
Dividends
Raised for 31 straight years — most recently to $0.20 from $0.18 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 28 | $0.20 | |
| May 15, 2026 | May 15 | May 29 | $0.20 | raised from $0.18 |
| Feb 13, 2026 | Feb 13 | Feb 27 | $0.18 | |
| Dec 26, 2025 | Dec 26 | Jan 9 | $1.00 | special dividend |
| Nov 14, 2025 | Nov 14 | Nov 28 | $0.18 | |
| Aug 15, 2025 | Aug 15 | Aug 29 | $0.18 | |
| May 9, 2025 | May 9 | May 23 | $0.18 | |
| Feb 14, 2025 | Feb 14 | Feb 28 | $0.18 |
Ownership
Shares outstanding 10.61M · Float 6.07M · 57.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Dimensional Fund Advisors LP | 520.3K | 4.90% | 13F | Aug 11, 2026 |
| JB Capital Partners LP | 504.0K | 4.75% | 13F | Aug 11, 2026 |
| American Century Companies Inc | 392.0K | 3.70% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 384.4K | 3.62% | 13F | Aug 13, 2026 |
| Albert G. Lowenthal · director, 10 percent owner, officer: CEO | 254.9K | 2.40% | Form 4 | Jan 29, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 2, 2026 | DENNIS P. McNAMARA | officer: Secretary | −4,673 | $90.67 |
Peers
- Raymond James Financial
Broad wealth-management and capital-markets overlap
- Stifel Financial
Full-service peer across wealth management and capital markets
- Morgan Stanley
Global wealth-management and institutional-securities overlap
- LPL Financial
Advisor-platform wealth-management overlap
- Piper Sandler
Middle-market banking and institutional-trading overlap
- Jefferies Financial Group
Global investment-banking and capital-markets overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Oppenheimer | $119.01 | −0.21% | $1.26B | 13.4 | — | 0.7 | +21.9% |
| Raymond James Financial | $179.36 | +0.02% | $34.46B | 15.6 | 13.0 | 2.0 | +3.8% |
| Stifel Financial | $81.29 | +0.04% | $12.32B | 9.6 | 11.6 | 1.8 | −1.4% |
| Morgan Stanley | $214.50 | −0.13% | $338.75B | 17.5 | 16.3 | 2.7 | +36.8% |
| LPL Financial | $370.69 | +0.02% | $29.65B | 29.6 | 13.7 | 1.5 | +35.2% |
| Piper Sandler | $75.61 | +0.11% | $5.10B | 17.5 | 15.2 | 2.4 | +25.8% |
| Jefferies Financial Group | $53.09 | 0.00% | $10.80B | 14.8 | 13.3 | 0.9 | −11.5% |
| Median | 16.6 | 13.5 | 1.9 | +14.8% |