Cohen & Co. reports Q4 adjusted EPS ($1.32) vs. $2.88 last year

Reports Q4 revenue $18.5M vs. $34.5M last year. Lester Brafman, CEO, said, “In 2024, Cohen & Company Capital Markets, our full-service boutique investment bank, 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. Despite continued elevated mortgage rates and lower levels of mortgage origination, we were able to grow our mortgage business in 2024, ending the year with a gestation repo book of $2.7 billion, up more than 30% from December 2023. We remain confident about our future earnings potential and are focused on enhancing long-term, sustained value for our stockholders, including through continued payment of our quarterly dividend.”