Cohen & Co. reports Q1 adjusted EPS 22c vs. $1.37 last year

Reports Q1 revenue $28.7M vs. $18.6M last year. Lester Brafman, Chief Executive Officer of Cohen & Company, said, “We are encouraged by our first quarter results, reflecting strong performance from our full-service boutique investment banking operation, Cohen & Company Capital Markets, which generated $20.1 million of net revenue. In April this year, we announced the launch of a new SPAC-focused equity trading desk, creating a synergistic opportunity to build on CCM’s momentum and further leverage its insights and capabilities. Despite ongoing mark-to-market headwinds in our principal investing portfolio, we remain focused on disciplined execution and are well positioned for continued growth. We remain confident in our future earnings potential and committed to enhancing long-term, sustained value for our stockholders, through the continued return of capital, including our quarterly dividend.”