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Cohen & Company Inc. (COHN) stock soared in the recent trading session: here’s why

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Cohen & Company Inc. (COHN) stock recently traded at $26.19 which is a 10.37% upward movement. The COHN stock previously closed at $23.73.

The pattern of positive movement in the recent trading session comes along with no relevant news released in April as of now. However, on 23rdMarch, COHN stock announced the expansion of its investment banking division in its indirect, wholly-owned subsidiary.

Cohen & Company Inc.’s background and operational segments

Cohen & Company Inc. (COHN) provides financial services that specifically focus on fixed income markets as well as SPAC markets. COHN stock has recently stepped into the SPAC market. Initially, the financial services were focused on small-cap banking institutions but now they have expanded to a wide array of capital markets, asset management, and principal investing services.

Here is each of the company’s operating segments’ details:

  • Capital Market Segment; fixed income sales, trade, matched book repo financing, and issue placement services
  • Asset Management Segment; collateralized debt obligations, managed accounts, and investment funds.
  • Principal Investing Segment; SPAC franchise- related company’s investments and ROI management.

COHN announces the hiring of an executive team for its J.V.B Financial Group subsidiary

Cohen & Company Inc. has an indirect subsidiary which is wholly owned. It is known by the name of J.V.B Financial Group LLC and it specializes in securities financing and sales-trading of fixed income securities. COHN announced that two strong bankers by the name of Dan Nash and Jerry Serowik are going to be the new professionals that will lead the JVB’s Investment Banking division. Both will also coordinate with the COHN stock team to eventually establish a diversified financial services firm.

Nash and Serowik are strong bankers and even stronger asset for J.V.B Financial Group

Serowik has been named Head of Equity Capital Markets; his role in the company is to lead JVB’s capital market practices. These capital market practices will expand and generate expertise in the SPAC as well as pipeline transactions. Serowik previously worked at Wells Fargo Securities (as has Dan Nash) and had led the growth in SPAC businesses by acquiring significant IPOs, PIPEs and advisory assignments. Serowik is a great asset to JVB as he has over 17 years of expertise on capital markets specifically an eye for potential and noteworthy SPACs.

Nash has been named Head of Investment Banking; his role in the company is to lead all aspects of Investment Banking for JVB. Nash has also been hired with the purpose using his expertise on acquisitions, SPAC mergers private placements in capital markets as well as PIPE transactions. Nash has worked previously with Wells Fargo Securities where he advised IT companies on investment and finances, through his role of Global Head of Internet Investment Banking. He also worked previously with MZ-a mobile gaming company- and held different finance investment positions at Intel Corp, Riverstone Networks and BofAMerril Lynch.

Overall outlook of COHN stock’s fundamentals

COHN stock’s fundamentals performance is shown in its Q4 and FY 2020 financial results announced on 3rd March. The revenues in Q4 increased by $44.5 million compared to the previous quarter. COHN stock recognized an $8 million net tax benefit in Q4 and total equity rose to $101.4 million compared to $48.8 million in December 2019. This improving performance shows that the company can look forward to more growth expansion, which is why it is expanding its portfolio in the investment banking sector and eying SPAC & merger deals.

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