Cohen & Co Inc. (COHN)

Quarterly Report Filed: 2026-05-04

Key Insights

Cohen & Co operates through multiple segments including Capital Markets and Asset Management, with significant investments in specialized joint ventures focused on insurance debt and commercial real estate mortgages, indicating a diversified investment strategy.
The company has junior subordinated notes totaling $49.6 million outstanding with a high yield to maturity of 18.88% as of March 31, 2026, suggesting elevated refinancing risk and capital structure concerns that warrant investor attention.
The filing shows a complex capital structure with non-controlling LLC Units convertible into common stock on a 10-for-one basis and redeemable at member option for cash or shares, creating potential dilution and accounting complexity for shareholders.
The company uses NAV as a practical expedient to measure fair value for its joint venture investments in U.S. Insurance JV, CREO JV, and CK Capital Value Fund, which means valuations are not subject to standard ASC 820 fair value hierarchy transparency.

Current Report Filed: 2026-05-01

Key Insights

Cohen & Company announced Q1 2026 financial results on May 1, 2026, with the full earnings release attached as Exhibit 99.1, though specific financial metrics and performance details are not disclosed in this 8-K filing itself.
The filing was signed by Joseph W. Pooler, Jr., Executive Vice President, CFO and Treasurer, indicating stable financial leadership at the company as of the filing date.
As a non-emerging growth company trading on NYSE American (ticker: COHN), Cohen & Company maintains standard SEC reporting obligations without extended compliance transition periods.

Insider Trading Filed: 2026-04-24

Key Insights

Daniel G. Cohen, Executive Chairman and 10% owner, acquired 8,000 shares at $0.00 on 04/23/2026, indicating either a gift, stock split adjustment, or compensation arrangement rather than a market purchase.
Cohen's total beneficial ownership stands at 104,757 shares (24,757 direct + 80,000 indirect through EBC 2013 Family Trust), demonstrating significant insider concentration in the company.
The transaction was executed at zero price and filed via attorney-in-fact, suggesting this may be a non-cash corporate action or internal equity restructuring rather than evidence of insider confidence through open market buying.
The filing shows no derivative securities activity, and the $0.00 transaction price limits ability to assess insider sentiment about current stock valuation or company prospects.

Insider Trading Filed: 2026-03-31

Key Insights

Daniel G. Cohen, the Executive Chairman of Cohen & Co Inc. (COHN), acquired 20,000 shares of the company's common stock on March 30, 2026 at $0.00 per share, increasing his direct ownership to 32,757 shares.
Additionally, Cohen owns 80,000 shares of COHN indirectly through the EBC 2013 Family Trust, indicating his strong commitment and alignment with the company's long-term success.
The insider buying activity by the company's top executive suggests positive sentiment and confidence in the future prospects of Cohen & Co Inc.

Insider Trading Filed: 2026-03-23

Key Insights

Joseph W. Pooler, Jr., the EVP, CFO and Treasurer of Cohen & Co Inc. (COHN), sold a total of 6,818 shares of the company's common stock on March 19 and 20, 2026.
The shares were sold at weighted average prices of $17.15 and $15.58, indicating that Pooler is reducing his direct ownership in the company.
Insider selling can sometimes signal management's lack of confidence in the company's future performance, which investors may want to monitor closely.

Insider Trading Filed: 2026-03-06

Key Insights

The reporting person, Daniel G. Cohen, has acquired a significant equity stake in Cohen & Co Inc. (COHN), both directly and through a family trust, indicating strong insider commitment.
Cohen has been awarded 2,888,000 restricted LTIP units in Cohen & Company, LLC, a subsidiary of COHN, which will vest over time, further aligning his interests with the company's performance.
The substantial insider ownership and long-term incentive compensation suggest Cohen's confidence in the company's future prospects and his willingness to be a long-term shareholder.

Insider Trading Filed: 2026-03-06

Key Insights

Joseph W. Pooler, Jr., the Executive Vice President, Chief Financial Officer, and Treasurer of Cohen & Co Inc. (COHN), acquired 160,000 restricted membership units (LTIP Units) in the company's subsidiary, Cohen & Company, LLC, which will vest over 5 years.
The LTIP Units represent a significant long-term incentive for Mr. Pooler, aligning his interests with those of the company and its shareholders.
The insider acquisition indicates confidence in the company's long-term prospects and may signal positive future developments for COHN.

Insider Trading Filed: 2026-03-06

Key Insights

Lester Raymond Brafman, the Chief Executive Officer of Cohen & Co Inc., acquired 315,702 shares of the company's common stock, indicating a significant insider buy.
Brafman was also awarded 1,605,000 restricted LTIP units in Cohen & Company, LLC, a subsidiary of Cohen & Co Inc., under the company's 2020 Long-Term Incentive Plan, which will vest over a five-year period.
The large insider buy and equity-based compensation award suggest that Brafman, a key executive, has a strong conviction in the company's long-term prospects.

Current Report Filed: 2026-03-06

Key Insights

Cohen & Company Inc. has amended and restated its operating subsidiary's limited liability company agreement to allow the issuance of LTIP Units, which are intended to constitute profits interests for U.S. federal income tax purposes.
The LTIP Units are convertible into the operating subsidiary's membership units, subject to vesting requirements and a capital account limitation.
The amended agreement does not materially modify the terms of the previous operating agreement, except for the addition of the LTIP Unit provisions.

Annual Report Filed: 2026-03-06

Key Insights

Cohen & Co Inc. saw a gain on the sale of management contracts in fiscal year 2025, which contributed to its financial performance.
The company has investments in several joint ventures, including the U.S. Insurance JV, the CREO JV, and the CK Capital Value Fund, which it values using net asset value (NAV) as a practical expedient.
The company has outstanding junior subordinated notes with a high yield to maturity of 19.07%, which could impact its capital structure and financing costs.

Current Report Filed: 2026-03-06

Key Insights

Cohen & Company Inc. released its Q4 2025 and full-year 2025 financial results, providing investors with an update on the company's performance.
The company did not provide any additional details or guidance on its outlook, which could impact investor sentiment.
Investors should monitor any future announcements or reports from the company for more information on its financial and operational trends.

Current Report Filed: 2026-02-13

Key Insights

Cohen & Company, LLC, the operating subsidiary of Cohen & Company Inc., owns a portion of and is the managing member of Columbus Circle 2 Sponsor Corp LLC, the sponsor of the SPAC.
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, acted as the lead underwriter in the SPAC's $230 million initial public offering.
The SPAC must complete a business combination within 24 months of the IPO, or else its corporate existence will cease and its assets will be liquidated.

Insider Trading Filed: 2026-02-05

Key Insights

Douglas Listman, the Chief Accounting Officer, has disposed of 3,252 shares of Cohen & Co Inc. (COHN) common stock through a 'F' transaction, likely to cover tax liabilities from the vesting of 6,667 shares of restricted stock.
Listman continues to hold a direct ownership of 28,934 shares in the company, indicating his ongoing commitment and alignment with shareholders.
The transaction appears routine and not indicative of any significant changes in Listman's overall position or the company's outlook.

Insider Trading Filed: 2026-02-05

Key Insights

The reporting person Joseph W. Pooler, Jr., who is the EVP, CFO and Treasurer of Cohen & Co Inc. (COHN), has disposed of 7,051 shares of common stock by having them withheld to fund certain tax liabilities incurred upon the vesting of 15,500 shares of restricted stock.
The reporting person's beneficial ownership of COHN common stock has decreased from 82,942 shares to 75,891 shares as a result of this transaction.
This transaction appears to be a routine tax withholding event related to the vesting of restricted stock, which is a common practice for corporate executives.

Insider Trading Filed: 2026-02-05

Key Insights

Daniel G. Cohen, the Executive Chairman, has redeemed 463,915 membership units in Cohen & Company, LLC for $905,098.17 to fund his tax liabilities from the vesting of restricted units.
Cohen owns 80,000 shares of Cohen & Co Inc. directly and an additional 80,000 shares indirectly through the EBC 2013 Family Trust.
The redemption of membership units is a routine insider transaction, as Cohen is exercising his right to redeem units for cash.

Insider Trading Filed: 2026-02-05

Key Insights

Lester Brafman, the Chief Executive Officer, redeemed 501,455 membership units of Cohen & Company, LLC for $978,338.07 to fund tax liabilities from the vesting of equity awards.
The redemption of membership units indicates Brafman may have tax planning or liquidity needs, which could signal a change in his ownership position or future intentions.
The reported transaction was a mandatory exercise of units to cover taxes, rather than a voluntary sale, suggesting Brafman maintains a sizable ownership stake in the company.

Insider Trading Filed: 2026-01-29

Key Insights

Insider Jack J. DiMaio Jr. acquired 2,300 shares of Cohen & Co Inc. (COHN) on 12/19/2025 at $0.00 per share, increasing his direct ownership to 23,233 shares.
The share acquisition was made under the company's 2020 Long-Term Incentive Plan, indicating a potential management incentive program.
Insider buying can be a positive signal for investors, as it suggests management's confidence in the company's outlook.

Insider Trading Filed: 2025-12-31

Key Insights

Daniel G. Cohen, the Executive Chairman, has acquired 30,000 shares of Cohen & Co Inc. (COHN) common stock through a gift transaction, increasing his direct ownership to 52,757 shares.
Cohen also indirectly owns 80,000 shares of COHN through the EBC 2013 Family Trust, indicating his significant stake and alignment with shareholder interests.
The insider transaction suggests Cohen's confidence in the company's prospects and aligns with his role as a 10% owner and executive of the firm.

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Important Information