Cohen Company - COHN STOCK NEWS

Cohen & Company Capital Markets (CCM) was ranked the leading advisor in the de-SPAC market for the second year in a row, with nearly $16 billion in M&A volume. The firm also announced three new senior leadership appointments. Despite challenges in the new issue markets, CCM was the most active advisor in 2023, with a 28% market share in SPAC advisory. The firm played a crucial role in several significant transactions, reflecting its resilience and ability to adapt to market fluctuations. The outlook for 2024 is positive, with expectations of increased M&A activity and IPO candidates well-positioned to capitalize on market momentum.

Cohen & Company Inc. reports financial results for Q3 2023. Net trading revenue was $7.5M, asset management revenue was $1.8M, and new issue and advisory revenue was $7.2M. Total revenues for the quarter were $17.1M. Operating income was -$4.1M. Net income attributable to Cohen & Company Inc. was -$423K. The company declared a quarterly dividend of $0.25 per share.

Cohen & Company Capital Markets (CCM) has hired Gary Quin as Senior Advisor to lead their efforts in Europe, the Middle East, and Africa. Quin brings over 25 years of investment banking experience and has a deep sectoral knowledge in various industries. He previously served as the CEO of North Atlantic Acquisition Corp and Vice Chairman of Credit Suisse's investment banking division in Europe. Quin successfully raised $66 billion in both private and public markets during his tenure at Credit Suisse. CCM aims to accelerate their growth and improve their international presence with Quin's expertise.

Cohen & Company reported a net loss of $3.0 million, or $2.10 per diluted share, for Q4 2022, compared to a profit of $4.2 million in Q4 2021. Total revenues fell to $12.5 million, down from $27.0 million the previous year. The firm declared a quarterly dividend of $0.25 per share, payable on April 5, 2023. The decline in revenues was largely driven by negative adjustments in the principal investing portfolio and lower asset management revenues. Adjusted pre-tax loss for Q4 was $6.1 million. Despite turbulent market conditions, the investment banking team is gaining market share.

Cohen & Company (NYSE American: COHN) will announce its financial results for Q4 and the full year 2022 on March 7, 2023. A conference call is scheduled for 10:00 a.m. ET on the same day to discuss these results. Interested participants can access the call via the company's website or by dialing designated phone numbers for both domestic and international callers. The company specializes in capital markets and asset management services, with approximately $2.1 billion in managed assets as of December 31, 2022. The conference call replay will be available for three days post-event.

Cohen & Company Capital Markets (CCM) announces significant growth in 2022, achieving over $18 billion in M&A volume and nearly $5 billion in capital raised, including $1.6 billion from PIPEs since its inception in 2021. The firm promoted five senior talents to bolster its investment banking team amidst a challenging capital markets environment. Despite the volatility leading to a 95% decline in IPO volumes and significant drops in credit issuance, CCM emerged as a leader in the DeSPAC market, advising notable transactions totaling $7,409 million. Looking ahead, CCM anticipates further M&A activity and a potential resurgence in the IPO market.