M&T Bank Corp Takes Position in Eagle Point Income Company Inc. (NYSE:EIC)

M&T Bank Corp acquired a new stake in shares of Eagle Point Income Company Inc. (NYSE:EIC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,726 shares of the company’s stock, valued at approximately $175,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. AdvisorNet Financial Inc bought a new position in shares of Eagle Point Income during the first quarter valued at about $25,000. Virtu Financial LLC grew its stake in shares of Eagle Point Income by 26.1% during the fourth quarter. Virtu Financial LLC now owns 16,909 shares of the company’s stock valued at $263,000 after buying an additional 3,498 shares during the last quarter. LPL Financial LLC grew its stake in shares of Eagle Point Income by 14.3% during the fourth quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock valued at $435,000 after buying an additional 3,504 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Eagle Point Income by 5.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 85,869 shares of the company’s stock worth $1,334,000 after purchasing an additional 4,358 shares during the last quarter. Finally, Naviter Wealth LLC bought a new stake in shares of Eagle Point Income in the first quarter worth about $178,000.

Eagle Point Income Price Performance

NYSE EIC opened at $13.66 on Friday. Eagle Point Income Company Inc. has a 1 year low of $12.63 and a 1 year high of $16.71. The business’s 50-day moving average is $13.62 and its 200 day moving average is $14.65.

Eagle Point Income (NYSE:EIC) last posted its earnings results on Wednesday, May 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.20). The company had revenue of $14.13 million during the quarter, compared to the consensus estimate of $13.58 million.

Eagle Point Income Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 14th will be given a $0.13 dividend. This represents a dividend yield of 11.36%. The ex-dividend date of this dividend is Friday, July 11th.

Eagle Point Income Profile

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.