Monitor the May 1 conference call for commentary on the sustainability of investment banking revenue and the impact of the SPAC market slowdown. The sharp QoQ decline in revenue from Q4 2025 (which included a SPAC deal) suggests lumpy earnings; focus on pipeline and forward guidance.
Price Chart
Executive Summary
Cohen & Company reported Q1 2026 revenue of $57.9M (up 101.6% YoY) and net income attributable to common shareholders of $1.5M ($0.42 diluted), compared to $0.3M ($0.19) in Q1 2025. The Board declared a quarterly dividend of $0.25 per share. Results were driven by strong investment banking revenue from Cohen & Company Capital Markets, but declined sharply from Q4 2025 which included a SPAC business combination.
Key Financial Metrics
Key Facts
- Revenue $57.9M vs $28.7M YoY (+101.6%)
- Net income attributable to Cohen & Company Inc. $1.5M ($0.42 diluted) vs $0.3M ($0.19) YoY
- Adjusted pre-tax income $4.0M ($0.65 diluted) vs $1.3M ($0.22) YoY
- Dividend declared $0.25 per share, payable June 2, 2026
- Investment banking revenue $45.7M, up from $20.2M YoY
- Gestation repo book size $3.9 billion
- Total equity $100.1M as of March 31, 2026
Financial Impact
Revenue $57.9M, net income $1.5M, dividend $0.25/share
Risk Factors
- Dependence on SPAC-related revenue which is volatile
- QoQ revenue decline of 43.6% from Q4 2025
- Small market cap ($58M) amplifies earnings volatility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3285881 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 8w ago | 8-K | $11.23 | awaiting T+60 | — | $9.38 (−16.45%) |
Aug 3, 2026 12w ago | 8-K | $14.47 | awaiting T+60 | — | $9.38 (−35.15%) |
Aug 3, 2026 12w ago | Press Release | $14.47 | awaiting T+60 | — | $9.38 (−35.15%) |
Jun 30, 2026 16w ago | 8-K | $13.59 $10.11 | ▼ −25.64% | ▼ −28.52% | $9.38 (−30.96%) |
Jun 22, 2026 18w ago | 8-K | $12.06 $10.00 | ▼ −17.08% | ▼ −20.33% | $9.38 (−22.20%) |
Jun 3, 2026 20w ago | EFFECT | $11.29 $11.05 | ▲ +2.13% | ▲ +4.62% | $9.38 (+16.89%) |
May 18, 2026 23w ago | S-3 | $11.00 $11.97 | ▼ −8.82% | ▼ −2.53% | $9.38 (+14.70%) |
May 1, 2026 25w ago | Press Release | $18.42 $13.62 | ▼ −26.09% | ▼ −29.16% | $9.38 (−49.06%) |
Mar 6, 2026 33w ago | Press Release | $18.70 $11.54 | ▼ −38.30% | ▼ −51.08% | $9.38 (−49.83%) |
Mar 4, 2026 33w ago | Press Release | $13.72 $11.54 | ▼ −15.91% | ▼ −27.21% | $9.38 (−31.63%) |
US Market Status
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