Cohen & Co. shares rose after the company said it saw higher revenue and earnings in the second quarter.
The stock was 11% higher, at $14.70, in morning trade, and is 29% higher in the past 12 months.
The company said it had quarterly earnings of $3.6 million, or 94 cents a share, compared with earnings of $1.4 million, or 81 cents a share, in the same quarter last year.
Revenue for the quarter was $69.5 million, compared with last year's $59.9 million.
The company said its second-quarter results were driven by its full-service boutique investment bank, Cohen & Company Capital Markets. Investment banking and new issue revenue was $54.1 million for the quarter, up $8.3 million from the prior quarter and up $9.9 million from the prior year.