Cohen & Company Inc.·Financial Services

Institutional Financial Markets, Inc. (NYSEAMERICAN:COHN - Get Free Report) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $15.52 and traded as low as $14.84. Institutional Financial Markets shares last traded at $15.51, with a volume of 27,569 shares changing hands.

Cohen & Company Inc. (COHN) Q4 2025 Earnings Call Transcript

Board Declares Quarterly Dividend of $0.25 per Share and Special Dividend of $0.70 per Share Revenue of $102.7 Million in Fourth Quarter 2025 and $275.6 Million in Full Year 2025 Net Income Attributable to Cohen & Company Inc. of $8.1 Million, or $1.48 per Diluted Share, in Fourth Quarter 2025 and $14.4 Million, or $4.35 per Diluted Share, in Full Year 2025 Adjusted Pre-Tax Income of $18.3 Million, or $2.97 per Diluted Share, in Fourth Quarter 2025 and $41.4 Million, or $6.92 per Diluted Share, in Full Year 2025 PHILADELPHIA and NEW YORK, March 06, 2026 (GLOBE NEWSWIRE) -- Cohen & Company Inc. (NYSE American: COHN) today reported financial results for its fourth quarter and full year ended December 31, 2025. Summary Operating Results Three Months Ended Twelve Months Ended ($ in thousands) 12/31/25 9/30/25 12/31/24 12/31/25 12/31/24 Investment banking and new issue $ 54,704 $ 68,606 $ 8,194 $ 187,608 $ 40,778 Net trading 13,819 13,560 8,947 47,347 36,409 Asset management 2,681 1,948 2,067 8,817 9,009 Principal transactions and other revenue 31,536 99 (667 ) 31,792 (6,598 ) Total revenues 102,740 84,213 18,541 275,564 79,598 Compensation and benefits 57,845 53,684 12,935 177,518 56,388 Non-compensation operating expenses 14,850 8,769 11,109 38,639 31,233 Operating income (loss) 30,045 21,760 (5,503 ) 59,407 (8,023 ) Interest expense, net (1,460 ) (1,472 ) (1,474 ) (5,876 ) (5,821 ) Gain on sale of management contracts - 1,897 - 2,734 - Income (loss) from equity method affiliates (5,081 ) (12,663 ) (662 ) (16,763 ) 21,704 Income (loss) before income tax expense (benefit) 23,504 9,522 (7,639 ) 39,502 7,860 Income tax expense (benefit) (2,275 ) 733 (764 ) (632 ) (329 ) Net income (loss) 25,779 8,789 (6,875 ) 40,134 8,189 Less: Net income (loss) attributable to the non-convertible non-controlling interest 5,254 (6,853 ) 66 (1,913 ) 8,675 Enterprise net income (loss) 20,525 15,642 (6,941 ) 42,047 (486 ) Less: Net income (loss) attributable to the convertible non-controlling interest 12,424 11,049 (4,988 ) 27,616 (357 ) Net income (loss) attributable to Cohen & Company Inc. $ 8,101 $ 4,593 $ (1,953 ) $ 14,431 $ (129 ) Fully diluted net income (loss) per share $ 1.48 $ 2.58 $ (1.21 ) $ 4.35 $ (0.08 ) Adjusted pre-tax income (loss) (1) $ 18,250 $ 16,375 $ (7,705 ) $ 41,415 $ (815 ) Fully diluted adjusted pre-tax income (loss) per share (1) $ 2.97 $ 2.71 $ (1.32 ) $ 6.92 $ (0.14 ) (1) Adjusted pre-tax income (loss) and adjusted pre-tax income (loss) per share are not measures recognized under U.S. generally accepted accounting principles (“GAAP”).

Cohen & Company is rated Buy, with a forward P/E of 5.8x and a P/B of 0.58x, signaling undervaluation relative to cyclical risks. Q3'25 saw strong advisory revenue and operating income, but principal segment losses due to high-risk equity holdings like NAKA offset gains. COHN's asset quality is supported by 53% of assets in short-term, high-quality repo arrangements, mitigating some balance sheet risk.

PARIS, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Cohen & Company Inc. (NYSE American: COHN) today announced that its controlled subsidiary, Cohen & Company Financial (Europe) S.A. (“CCFESA”), has successfully completed the second and final closing of its PriDe IV funds, with total commitments of €481.5 million. PriDe IV is the latest vintage in a series of funds focused on investing in Tier II capital instruments issued by small and mid-sized insurance companies with limited access to capital markets. The PriDe Program enables insurers to enhance their regulatory capital ratios, fund acquisitions or internal growth, optimize their reinsurance programs, and/or lower their weighted average cost of capital.

Shares of Institutional Financial Markets, Inc. (NYSEAMERICAN:COHN - Get Free Report) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $14.17 and traded as high as $19.95. Institutional Financial Markets shares last traded at $18.69, with a volume of 20,929 shares changing hands. Institutional Financial
Cohen & Company Inc. is a publicly owned investment manager. The firm primarily provides its services to individuals and institutions. It manages separate client-focused fixed income portfolios. Institutional Financial Markets, Inc. also manages funds and collateralized debt obligations for its clients. It invests in the fixed income and alternative investment markets across the globe. The firm's fixed income investments include U.S. trust preferred securities, European hybrid capital securities, Asian commercial real estate debt, mortgage backed securities, and asset backed securities. The firm was formerly known as Institutional Financial Markets, Inc. Cohen & Company Inc. was founded in 1999 and is based in Philadelphia, Pennsylvania with additional offices in New York City; Boca Raton, Florida; Chicago, Illinois; Bethesda, Maryland; Boston, Massachusetts; Paris, France; and London, United Kingdom.
Financial Services
Financial - Capital Markets
117
2004-03-17
1.10