Bank of America Corp DE Acquires 48,427 Shares of Ethan Allen Interiors Inc. $ETD

Bank of America Corp DE increased its holdings in Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) by 46.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,994 shares of the company's stock after buying an additional 48,427 shares during the quarter. Bank of America Corp DE owned 0.60% of Ethan Allen Interiors worth $3,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ETD. Empowered Funds LLC purchased a new position in Ethan Allen Interiors during the first quarter valued at approximately $1,958,000. Sei Investments Co. bought a new position in Ethan Allen Interiors in the 1st quarter worth $938,000. Fifth Third Bancorp lifted its position in shares of Ethan Allen Interiors by 2,144.5% in the first quarter. Fifth Third Bancorp now owns 40,042 shares of the company's stock valued at $891,000 after acquiring an additional 38,258 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Ethan Allen Interiors by 52.2% in the first quarter. Janney Montgomery Scott LLC now owns 87,384 shares of the company's stock valued at $1,945,000 after acquiring an additional 29,958 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Ethan Allen Interiors by 11.5% in the 1st quarter. Renaissance Technologies LLC now owns 261,177 shares of the company's stock worth $5,814,000 after purchasing an additional 26,976 shares during the period. 83.80% of the stock is currently owned by hedge funds and other institutional investors.

Ethan Allen Interiors Stock Down 0.1%

Shares of Ethan Allen Interiors stock opened at $23.45 on Monday. The stock's fifty day moving average is $22.73 and its two-hundred day moving average is $22.10. The company has a market capitalization of $596.80 million, a PE ratio of 15.03 and a beta of 1.02. Ethan Allen Interiors Inc. has a 52 week low of $18.28 and a 52 week high of $30.80.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. Ethan Allen Interiors had a net margin of 6.88% and a return on equity of 7.88%. The company had revenue of $146.75 million for the quarter, compared to the consensus estimate of $148.70 million. During the same quarter last year, the firm posted $0.49 EPS. The firm's revenue was down 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Ethan Allen Interiors Inc. will post 1.3 earnings per share for the current year.

Ethan Allen Interiors Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. Ethan Allen Interiors's dividend payout ratio is 100.00%.

Wall Street Analysts Forecast Growth

ETD has been the subject of several research reports. Telsey Advisory Group dropped their price objective on shares of Ethan Allen Interiors from $24.00 to $22.00 and set a "market perform" rating for the company in a report on Thursday, July 30th. Zacks Research cut Ethan Allen Interiors from a "hold" rating to a "strong sell" rating in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ethan Allen Interiors in a report on Friday, July 31st. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Sell" and an average price target of $22.00.

About Ethan Allen Interiors

Ethan Allen Interiors Inc NYSE: ETD is a vertically integrated manufacturer and retailer of home furnishings, offering a broad range of furniture, upholstery, case goods and decorative accessories. The company designs and produces the majority of its products in its own North American manufacturing facilities, maintaining close control over quality, craftsmanship and production schedules. Through its network of company-operated and franchised Design Centers and galleries, Ethan Allen delivers a full-service offering that includes on-site interior design consultations and project management.

Founded in 1932 as a small Colonial-Revival furniture maker in northern Vermont, Ethan Allen has grown into a global brand known for its timeless styles and customization options.

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