Cohen & Company Stock Falls After Company Registers Losses In Fourth Quarter — Retail’s On The Fence
Revenue declined 46% year-over-year to $18.54 million but came in better than a Wall Street estimate of $9.38 million, according to Stocktwits data. Adjusted losses stood at $1.32 per share compared to a projected loss of $1.90.
FollowShares of financial services firm Cohen & Company Inc. (COHN) declined over 4% on Monday after the company announced losses in the fourth quarter compared to a net profit in the year-ago period.
Revenue declined 46% year-over-year (YoY) to $18.54 million but came in better than a Wall Street estimate of $9.38 million, according to Stocktwits data. Adjusted losses stood at $1.32 per share compared to a projected loss of $1.90.
The company reported a net loss of $1.95 million compared to a net income of $4.55 million in the same quarter a year ago.
Net trading revenue rose to $8.9 million during the quarter compared to $7.8 million in the same quarter a year ago, primarily due to higher trading revenue from the mortgage group.
Asset management revenue increased to $2.07 million from $1.92 million in the year-ago period, driven by deferred performance fees in one of the company’s European funds.
New issue and advisory revenue fell to $10.08 million from $18.72 million in the year-ago quarter.
CEO Lester Brafman explained that in 2024, the company’s full-service boutique investment bank, Cohen & Company Capital Markets (CCM), 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,” he said.
Brafman also highlighted that despite continued elevated mortgage rates and lower mortgage origination levels, the company grew its mortgage business in 2024, ending the year with a gestation repo book of $2.7 billion, up more than 30% from December 2023.
Meanwhile, on Stocktwits, retail sentiment continued to trend in the ‘neutral’ territory (50/100) following the earnings announcement.
COHN’s Sentiment Meter and Message Volume as of 9:49 a.m. ET on March 10, 2025 | Source: Stocktwits
COHN shares have declined over 12% year-to-date but are up over 17% in the past year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
subscribe to Asianet Newsable WhatsApp channel by clicking here.
