{"id":823543,"date":"2025-03-10T08:28:39","date_gmt":"2025-03-10T12:28:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cohen-company-reports-fourth-quarter-full-year-2024-financial-results\/"},"modified":"2025-03-10T08:28:39","modified_gmt":"2025-03-10T12:28:39","slug":"cohen-company-reports-fourth-quarter-full-year-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cohen-company-reports-fourth-quarter-full-year-2024-financial-results\/","title":{"rendered":"Cohen & Company Reports Fourth Quarter & Full Year 2024 Financial Results"},"content":{"rendered":"

\nBoard Declares Quarterly Dividend of $0.25 per Share
\n<\/h2>\n
\n

PHILADELPHIA and NEW YORK, March 10, 2025 (GLOBE NEWSWIRE) — Cohen & Company Inc. (NYSE American: COHN), a financial services firm specializing in an expanding range of capital markets and asset management services, today reported financial results for its fourth quarter and full year ended December 31, 2024.<\/p>\n

\n Summary Operating Results<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0\u00a0Three Months Ended<\/td>\n\u00a0<\/td>\nTwelve Months Ended<\/td>\n<\/tr>\n
($ in thousands)<\/td>\n12\/31\/24<\/td>\n\u00a0<\/td>\n9\/30\/24<\/td>\n\u00a0<\/td>\n12\/31\/23<\/td>\n\u00a0<\/td>\n12\/31\/24<\/td>\n\u00a0<\/td>\n12\/31\/23<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net trading<\/td>\n$<\/td>\n8,947<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n8,816<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,809<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n36,409<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n30,926<\/td>\n\u00a0<\/td>\n<\/tr>\n
Asset management<\/td>\n\u00a0<\/td>\n2,067<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,147<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,919<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,009<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,337<\/td>\n\u00a0<\/td>\n<\/tr>\n
New issue and advisory<\/td>\n\u00a0<\/td>\n10,075<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,459<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,722<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n63,422<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,264<\/td>\n\u00a0<\/td>\n<\/tr>\n
Principal transactions and other revenue<\/td>\n\u00a0<\/td>\n(2,548<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,727<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29,242<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,454<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total revenues<\/td>\n\u00a0<\/td>\n18,541<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,695<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34,464<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79,598<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82,981<\/td>\n\u00a0<\/td>\n<\/tr>\n
Compensation and benefits<\/td>\n\u00a0<\/td>\n12,935<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,915<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,335<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n56,388<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52,092<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-compensation operating expenses<\/td>\n\u00a0<\/td>\n11,109<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,558<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,680<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,233<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,028<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income (loss)<\/td>\n\u00a0<\/td>\n(5,503<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,222<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,449<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8,023<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,861<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense, net<\/td>\n\u00a0<\/td>\n(1,474<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,256<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,619<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,821<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,526<\/td>\n)<\/td>\n<\/tr>\n
Income (loss) from equity method affiliates<\/td>\n\u00a0<\/td>\n(662<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(683<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,217<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,704<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,609<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) before income tax expense (benefit)<\/td>\n\u00a0<\/td>\n(7,639<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,283<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,047<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,860<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,944<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax expense (benefit)<\/td>\n\u00a0<\/td>\n(764<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n142<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n166<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(329<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,545<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n\u00a0<\/td>\n(6,875<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,881<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,189<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,399<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: Net income (loss) attributable to the non-convertible non-controlling interest<\/td>\n\u00a0<\/td>\n66<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,455<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,054<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,590<\/td>\n\u00a0<\/td>\n<\/tr>\n
Enterprise net income (loss)<\/td>\n\u00a0<\/td>\n(6,941<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,596<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,827<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(486<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(9,191<\/td>\n)<\/td>\n<\/tr>\n
Less: Net income (loss) attributable to the convertible non-controlling interest<\/td>\n\u00a0<\/td>\n(4,988<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,446<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,279<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(357<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,078<\/td>\n)<\/td>\n<\/tr>\n
Net income (loss) attributable to Cohen & Company Inc.<\/td>\n$<\/td>\n(1,953<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n2,150<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,548<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(129<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(5,113<\/td>\n)<\/td>\n<\/tr>\n
Fully diluted net income (loss) per share<\/td>\n$<\/td>\n(1.21<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n1.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2.97<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.08<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(3.38<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted pre-tax income (loss) (1)<\/td>\n$<\/td>\n(7,705<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n7,738<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15,993<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(815<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,646<\/td>\n)<\/td>\n<\/tr>\n
Fully diluted adjusted pre-tax income (loss) per share<\/td>\n$<\/td>\n(1.32<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n1.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.14<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.66<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

(1)\u00a0\u00a0\u00a0Adjusted pre-tax income (loss) is not a measure recognized under U.S. generally accepted accounting principles (\u201cGAAP\u201d). See Note 1 below.<\/p>\n

Lester Brafman, Chief Executive Officer of Cohen & Company, said, \u201cIn 2024, Cohen & Company Capital Markets (\u201cCCM\u201d), our full-service boutique investment bank, continued to grow market share as an advisor and agent, expanding into underwriting initial public offerings. While CCM revenue was down compared to the third quarter of 2024, our actions to strengthen the business throughout the year generated full year CCM revenue of $38.9 million from nearly 50 clients, almost double the full year 2023 CCM revenue of $21.9 million.\u201d<\/p>\n

Brafman continued, \u201cDespite continued elevated mortgage rates and lower levels of mortgage origination, we were able to grow our mortgage business in 2024, ending the year with a gestation repo book of $2.7 billion, up more than 30% from December 2023. We remain confident about our future earnings potential and are focused on enhancing long-term, sustained value for our stockholders, including through continued payment of our quarterly dividend.\u201d<\/p>\n

\n Financial Highlights<\/strong>\n <\/p>\n