Earnings Releases·Nov 12, 2026, 8:03 AM ET

Cohen & Company — Third Quarter 2026 Earnings Summary

Total revenue declined to $32.4 million from $69.5 million in the prior quarter and $84.2 million in the prior year quarter, driven by a $41.3 million drop in investment banking revenue and $17.6 million in mark-to-market losses.
Net income attributable to the company was $6.7 million ($0.12 per share), an increase from $3.6 million ($0.94 per share) in the prior quarter but down from $4.6 million ($2.58 per share) in the prior year quarter.
The Board declared a quarterly dividend of $0.25 per share payable December 14, 2026, while noting that future dividend decisions will be evaluated quarterly based on operating results and capital needs.
Management highlighted a strong pipeline for 2027, with the gestation repo book reaching an all-time high of $4.5 billion and CCM underwriting six SPAC IPOs and eight de-SPAC transactions.
Total assets grew to $1.0 billion and total equity increased to $119.6 million as of September 30, 2026, while debt remained stable at $31.4 million.