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Cohen & Company Inc. (COHN) is a publicly-owned investment management firm headquartered in Philadelphia, Pennsylvania. Established in 1999, the company is recognized for its expertise in managing a range of fixed-income portfolios, with services extended to individuals and institutions globally. Formerly known as Institutional Financial Markets, Inc., Cohen & Company has a robust presence with additional offices in New York City, Boca Raton, Chicago, Bethesda, Boston, Paris, and London.
The firm's business is segmented into three primary areas:
- Capital Markets: This segment is the main revenue driver and includes activities such as fixed-income sales and trading, matched book repo financing, new issue placements in corporate and securitized products, and advisory services.
- Asset Management: This segment focuses on managing assets within collateralized debt obligations, managed accounts, joint ventures, and investment funds. It invests in U.S. trust preferred securities, European hybrid capital securities, Asian commercial real estate debt, mortgage-backed securities, and asset-backed securities.
- Principal Investing: This segment involves investments aimed at generating returns rather than supporting trading or other capital market activities.
Recently, Cohen & Company has been actively involved in the de-SPAC market, advising on 29 announced or closed deals, representing nearly $16 billion in M&A volume for 2023. The firm is known for its innovative solutions and strategic advisory services across various sectors including blockchain, digital assets, auto-tech, clean-tech, and cybersecurity.
The company had a strong performance in 2023, despite challenges in new issue markets. CCM, the firm's capital markets division, was a leading advisor in the de-SPAC market and has expanded its senior leadership team with notable hires to bolster its capabilities in M&A, capital markets, and SPAC advisory.
Cohen & Company continues to innovate and adapt, leveraging its expertise to navigate market fluctuations and provide top-tier services to its clients. With a positive outlook for 2024, the firm anticipates increased activity in M&A and new SPAC issuance, driven by improved access to credit markets and a recovering economic backdrop.
Cohen & Company reported Q3 2024 financial results with net income of $2.2 million ($1.31 per diluted share), compared to a net loss of $2.3 million in Q2 2024. Total revenues reached $31.7 million, up from $10.8 million in the previous quarter. The company's Capital Markets division generated $21.4 million in advisory revenue. Net trading revenue was $8.8 million, and asset management revenue was $2.1 million. The Board declared a quarterly dividend of $0.25 per share, payable December 5, 2024. Total equity stood at $100.6 million as of September 30, 2024.
Cohen & Company (NYSE American: COHN) has scheduled its third quarter 2024 financial results release for Monday, November 4, 2024. The company will host a conference call at 10:00 a.m. ET on the same day to discuss the results. Investors can access the webcast through the company's website or join via phone using the provided domestic and international dial-in numbers. A three-day replay will be available with participant passcode 13749865.
Cohen & Company Inc. (NYSE American: COHN) reported financial results for Q2 2024. Key highlights include:
- Net loss attributable to Cohen & Company Inc. was $2.3 million, or $1.47 per diluted share
- Total revenues were $10.8 million, down from $18.6 million in Q1 2024 and $22.6 million in Q2 2023
- Net trading revenue increased to $8.8 million, up $1.4 million from Q2 2023
- New issue and advisory revenue was $6.5 million, up $5.1 million from Q2 2023
- The Board declared a quarterly dividend of $0.25 per share
The company's investment banking operation, Cohen & Company Capital Markets, generated $6.4 million in advisory revenue and led two SPAC IPOs. Total equity as of June 30, 2024, was $95.6 million.
Cohen & Company Inc. (NYSE American: COHN) has announced the release date for its second quarter 2024 financial results. The company will disclose its financial performance on Monday, August 5, 2024, followed by a conference call at 11:00 a.m. Eastern Time to discuss the results. Investors and interested parties can access the webcast through the company's website or join the call with operator assistance. A replay of the call will be available for three days after the event.
Cohen & Company Inc. reported strong financial results for the first quarter of 2024, with net income of $2.0 million and adjusted pre-tax income of $7.7 million. The company declared a quarterly dividend of $0.25 per share. Despite market challenges, the company continues to focus on growth and investment in its full-service boutique investment banking operation. Net trading revenue increased by 26% from the prior quarter. The company remains committed to enhancing shareholder value through prudent investments and revenue generation.
Cohen & Company Inc. (NYSE American: COHN) has announced the release date for its first-quarter 2024 financial results, scheduled for May 6, 2024. A conference call will be held the same day at 10:00 a.m. Eastern Time to discuss the results, with webcast and call-in options available for interested parties.
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