Cohen & Company Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Revenue $32.4 million, down from $69.5 million sequentially and $84.2 million year over year
- ➤Adjusted pre-tax income $0.6 million, down from $10.1 million sequentially and $16.4 million year over year
- ➤Investment banking and new issue revenue $12.7 million, hit by $17.6 million mark-to-market losses
- ➤Gestation repo book reached $4.5 billion; CCM raised $1.8 billion through six SPAC IPOs
- ➤Board declared $0.25 quarterly dividend, payable December 14, 2026
Expert Statements
Daniel G. Cohen, Executive Chairman and Chief Executive Officer of Cohen & Company
“We are encouraged by the continued strong performance in our full-service boutique investment bank, Cohen & Company Capital Markets (“CCM”), and in our gestation repo business.”
Daniel G. Cohen, Executive Chairman and Chief Executive Officer of Cohen & Company
“During the third quarter, CCM underwrote six SPAC IPOs and one closed-end fund, raising $1.8 billion for clients, and advised on and raised capital for eight de-SPAC transactions, exemplifying its status as a leading SPAC advisor on Wall Street.”
Daniel G. Cohen, Executive Chairman and Chief Executive Officer of Cohen & Company
“Additionally, our gestation repo book grew to an all-time high of $4.5 billion during the quarter, illustrating the strength of our mortgage business.”
Daniel G. Cohen, Executive Chairman and Chief Executive Officer of Cohen & Company
“While third quarter results were unfavorably impacted by more than $17 million of mark-to-market adjustments in our investment banking and new issue revenue line, in large part due to the environment in our businesses, we still generated $6.9 million of enterprise net income and $648,000 of adjusted pre-tax income.”
Daniel G. Cohen, Executive Chairman and Chief Executive Officer of Cohen & Company
“We are focused on consistent production through the end of the year and positioning ourselves to enter 2027 with a strong pipeline.”
Daniel G. Cohen, Executive Chairman and Chief Executive Officer of Cohen & Company
“We continue to believe in our future earnings potential and are committed to driving long-term value for our stockholders, including through our quarterly dividend.”
Daniel G. Cohen, Executive Chairman and Chief Executive Officer of Cohen & Company
“We have generated $1.47 of fully diluted net income per share year to date and are confident in our future value creation potential.”
PHILADELPHIA and NEW YORK, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Cohen & Company Inc. (NYSE American: COHN) (“Cohen & Company” or the “Company”) today reported financial results for its third quarter ended September 30, 2026. In a separate release, the Company also announced today that Daniel G. Cohen, Executive Chairman of the Board, has been appointed Chief Executive Officer.
Daniel G. Cohen, Executive Chairman and Chief Executive Officer of Cohen & Company, said, “We are encouraged by the continued strong performance in our full-service boutique investment bank, Cohen & Company Capital Markets (“CCM”), and in our gestation repo business. During the third quarter, CCM underwrote six SPAC IPOs and one closed-end fund, raising $1.8 billion for clients, and advised on and raised capital for eight de-SPAC transactions, exemplifying its status as a leading SPAC advisor on Wall Street. Additionally, our gestation repo book grew to an all-time high of $4.5 billion during the quarter, illustrating the strength of our mortgage business. While third quarter results were unfavorably impacted by more than $17 million of mark-to-market adjustments in our investment banking and new issue revenue line, in large part due to the environment in our businesses, we still generated $6.9 million of enterprise net income and $648,000 of adjusted pre-tax income. We are focused on consistent production through the end of the year and positioning ourselves to enter 2027 with a strong pipeline. We continue to believe in our future earnings potential and are committed to driving long-term value for our stockholders, including through our quarterly dividend. We have generated $1.47 of fully diluted net income per share year to date and are confident in our future value creation potential.”
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