M&T Bank Corp Invests $175,000 in Eagle Point Income Company Inc. (NYSE:EIC)

M&T Bank Corp bought a new position in Eagle Point Income Company Inc. (NYSE:EIC) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 11,726 shares of the company’s stock, valued at approximately $175,000.

Several other institutional investors have also recently made changes to their positions in EIC. Raymond James Financial Inc. bought a new stake in shares of Eagle Point Income in the 4th quarter worth approximately $842,000. Mariner LLC bought a new stake in shares of Eagle Point Income in the 4th quarter worth approximately $275,000. Envestnet Asset Management Inc. boosted its position in shares of Eagle Point Income by 5.3% in the 4th 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 in the last quarter. LPL Financial LLC boosted its position in shares of Eagle Point Income by 14.3% in the 4th quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock worth $435,000 after purchasing an additional 3,504 shares in the last quarter. Finally, Verity Asset Management Inc. bought a new stake in shares of Eagle Point Income in the 1st quarter worth approximately $1,149,000.

Eagle Point Income Price Performance

Shares of EIC opened at $13.66 on Friday. Eagle Point Income Company Inc. has a 52 week low of $12.63 and a 52 week high of $16.71. The business’s 50 day moving average price is $13.62 and its 200-day moving average price is $14.65.

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

Eagle Point Income Cuts Dividend

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

About Eagle Point Income

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.