Cohen & Company (COHN) AI Stock Analysis

• Market Cap: $22.39M
• Dividend Yield: 9.09%
• Average Volume (3M): 6.14K
• Price to Earnings (P/E): 10.0
• Beta (1Y): 1.16
• Revenue Growth: 69.61%
• EPS Growth: -55.71%
• Country: US
• Employees: 117
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.81
• Shares Outstanding: 2,035,863
• 10 Day Avg. Volume: 4,658
• 30 Day Avg. Volume: 6,136
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 42.29
• Enterprise Value/Revenue: 9.60
• Enterprise Value/Gross Profit: 21.62
• Enterprise Value/Ebitda: -211.15
• 1Y Price Target: $13.00
• Price Target Upside: 18.18% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 65 Neutral
• Price Target: $13.00 ▲(18.18% Upside)

Cohen & Company's stock score is driven by strong technical indicators and a solid valuation, supported by strategic corporate events. However, financial performance is mixed, with profitability issues and high leverage posing risks.

Cohen & Company Business Overview & Revenue Model

Company Description

Cohen & Company Inc. is a publicly owned investment manager. The firm primarily provides its services to individuals and institutions. It manages separate client-focused fixed income portfolios. Institutional Financial Markets, Inc. also manages funds and collateralized debt obligations for its clients. It invests in the fixed income and alternative investment markets across the globe. The firm's fixed income investments include U.S. trust preferred securities, European hybrid capital securities, Asian commercial real estate debt, mortgage backed securities, and asset backed securities. The firm was formerly known as Institutional Financial Markets, Inc. Cohen & Company Inc. was founded in 1999 and is based in Philadelphia, Pennsylvania with additional offices in New York City; Boca Raton, Florida; Chicago, Illinois; Bethesda, Maryland; Boston, Massachusetts; Paris, France; and London, United Kingdom.

How the Company Makes Money

Cohen & Company generates revenue through multiple streams, primarily by charging fees for its advisory services and asset management solutions. The firm earns management fees from the assets it manages for clients, typically calculated as a percentage of the total assets under management (AUM). Additionally, the company receives performance fees based on the investment returns it achieves for its clients, incentivizing high performance. Its investment banking division contributes to revenue through advisory fees from mergers and acquisitions, initial public offerings (IPOs), and other capital raising activities. Significant partnerships with institutional investors and strategic alliances with other financial entities also bolster its revenue, enabling the firm to access broader markets and diverse client bases.

Cohen & Company Financial Statement Overview

Summary

Cohen & Company shows strong revenue growth and cash flow generation, but profitability challenges persist with ongoing net losses and high leverage.

Income Statement

Cohen & Company shows a volatile revenue trajectory, with a significant revenue increase in TTM (Trailing-Twelve-Months) by 23.95% compared to the previous year. However, net profitability remains a concern, as the company recorded a negative net income in the recent TTM. Gross profit margin improved to 44.39% in TTM from 29.16% last year, indicating better cost management. Despite these improvements, the negative EBITDA margin in TTM reflects ongoing operational challenges.

Balance Sheet

The company's balance sheet shows a high level of leverage with a debt-to-equity ratio of 0.39 in TTM, a significant decrease from the high leverage in previous years. Although stockholders' equity has remained relatively stable, the equity ratio of 4.29% suggests limited buffer against liabilities. The return on equity is currently negative due to losses, highlighting profitability issues despite asset growth.

Cash Flow

Cohen & Company demonstrates strong cash flow generation in TTM with a significant increase in free cash flow. The free cash flow to net income ratio is exceptionally high due to the negative net income, indicating strong cash efficiency. Operating cash flow surged significantly, reflecting improved cash management and operations. Despite these strengths, the large capital expenditures and financing outflows could pose future liquidity challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	98.66M	79.60M	82.98M	44.39M	146.37M	130.11M
Gross Profit	43.80M	23.21M	30.89M	-5.90M	61.32M	70.21M
EBITDA	-4.49M	2.60M	23.03M	-58.30M	80.43M	116.75M
Net Income	-1.21M	-129.00K	-5.11M	-58.67M	72.11M	38.45M
Balance Sheet
Total Assets	978.05M	971.15M	772.76M	887.05M	3.65B	6.15B
Cash, Cash Equivalents and Short-Term Investments	13.98M	163.09M	184.51M	240.93M	274.43M	284.96M
Total Debt	16.55M	751.97M	454.00M	492.27M	3.23B	5.77B
Total Liabilities	892.39M	880.87M	680.96M	793.03M	3.50B	6.05B
Stockholders Equity	42.00M	41.73M	41.68M	46.74M	61.41M	43.91M
Cash Flow
Free Cash Flow	286.14M	8.23M	-40.03M	-24.06M	17.29M	41.22M
Operating Cash Flow	287.45M	9.47M	-39.66M	-23.49M	18.32M	41.44M
Investing Cash Flow	-265.93M	16.51M	38.12M	13.80M	-22.53M	-11.95M
Financing Cash Flow	-19.35M	-16.72M	-17.11M	-11.50M	13.16M	3.79M

Cohen & Company Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 11.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COHN, the sentiment is Neutral. The current price of 11 is below the 20-day moving average (MA) of 11.54, below the 50-day MA of 11.67, and above the 200-day MA of 9.37, indicating a neutral trend. The MACD of -0.21 indicates Positive momentum. The RSI at 39.19 is Neutral, neither overbought nor oversold. The STOCH value of 19.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for COHN.

Cohen & Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WHG	68 Neutral	158.90M	40.48	3.12%	3.55%	0.24%	-49.87%
COHN	65 Neutral	$22.39M	10.00	4.55%	9.09%	69.61%	-55.71%
SIEB	62 Neutral	118.05M	12.29	10.67%	―	9.24%	-2.06%
HGBL	56 Neutral	59.76M	17.39	5.46%	―	-11.05%	-66.83%
SWIN	40 Underperform	481.10M	-54.91	-180.47%	―	-33.99%	-121.80%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Cohen & Company Corporate Events

Cohen & Company Completes CDO Asset Divestment

On March 13, 2025, Cohen & Company Financial Management entered into a Master Transaction Agreement with HCMC III, LLC to sell its rights and obligations in various Collateral Management and Administration Agreements. The transaction involved multiple closings, with the final ones completed on July 9 and September 5, 2025, for a total purchase price of approximately $2.86 million. This sale marks the completion of Cohen & Company’s divestment of its CDO-related assets, potentially impacting its operational focus and market positioning.

Cohen & Company Completes Sale of Collateral Agreements

On July 9, 2025, Cohen & Company Financial Management, LLC completed the sale of its rights and obligations under certain Collateral Management Agreements and Collateral Administration Agreements to HCMC III, LLC, an affiliate of Hildene Capital Management, LLC. This transaction, which was part of a Master Transaction Agreement signed on March 13, 2025, involved the transfer of agreements related to Alesco Preferred Funding V, Ltd. and Alesco Preferred Funding VIII, Ltd., for a total purchase price of $837,447. The sale marks a significant step in Cohen & Company’s strategic repositioning within the financial services industry.

Cohen & Company Facilitates ProCap Financial’s Public Debut

Cohen & Company, LLC, a subsidiary of Cohen & Company Inc., played a significant role in the initial public offering of Columbus Circle Capital Corp. I, a SPAC focused on mergers and acquisitions. On June 23, 2025, the SPAC announced a business combination with ProCap BTC and ProCap Financial, aiming to make ProCap Financial a publicly traded company. The proceeds from this transaction will be used by ProCap Financial to purchase bitcoin, aligning with its strategic plans. The transaction involves a significant Preferred Equity Investment and Convertible Note Financing, with implications for stakeholders, including potential changes in share allocations upon closing.

Cohen & Company Amends Loan Agreement with Byline Bank

On June 20, 2025, J.V.B. Financial Group, LLC, a subsidiary of Cohen & Company, amended its loan agreement with Byline Bank, extending the loan maturity date to June 18, 2026, and reducing the required Excess Net Capital from $40 million to $30 million. This amendment provides the company with extended financial flexibility and potentially impacts its capital management strategies.