Oppenheimer Holdings Inc. said its shares reached a record high of $123.66 on Friday, extending a rally that has lifted the stock 71.4% over the past 12 months and 67% year-to-date.
The New York-based financial services company, which operates through Oppenheimer & Co. Inc., has a market capitalization of $1.32 billion and trades at a price-to-earnings ratio of 13.5. Oppenheimer has paid dividends for 34 consecutive years, according to the company’s filings.
The advance follows Oppenheimer’s expansion of its institutional derivatives business, which added seven senior professionals from Guggenheim Securities. The new hires include Ed Boll, who took a leadership role as head of derivatives strategy, alongside Steve Ahn, Matthew Shaffer, Steven Weingroff, Nick Colucci, Julia Marcus and Jia Li. William Visconto joined as an external advisor.
The incoming team brings expertise across derivatives strategy, idea generation, sales, trading and algorithmic technology, the company said. Oppenheimer said the hires are intended to strengthen its position in the derivatives market as demand for structured products and hedging solutions grows.
Analysts at InvestingPro, cited in the report, noted that Oppenheimer’s stock appeared undervalued at current levels, citing its long track record of dividend payments and consistent financial performance. The shares have climbed steadily since the start of the year, reflecting broader investor confidence in the firm’s growth trajectory.
