Share Name Share Symbol Market Type Share ISIN Share Description
Ejf Investments Ltd LSE:EJFI London Ordinary Share JE00BF0D1M25 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 128.50 125.00 132.00 128.50 128.50 128.50 0.00 08:00:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unknown 0.0 -8.8 -14.2 - 79

Ejf Investments Share Discussion Threads

Chat Pages: 1
Picked up some more of these yesterday. I can't understand why they are so cheap!
Any views on these by anyone who knows what they're talking about - i.e. unlike me? Obviously, I'm interested due to the combination of an 8.73% yield and a 25% discount. But 2.59% fees seem a lot? They're 76% invested in Securitisations & Related Investments and 21% cash. They're also optimistic after the US legislation... "Given EJFI’s large exposures to the U.S. banking and insurance sectors, and its commitment to the U.S. consumer via its mortgage servicing rights (“MSRs”) investment program, we view the COVID-19 Relief Bill as being extremely supportive. Furthermore, we wish to emphasize that EJFI is yet to experience any notable credit pressure on its bank and insurance debt holdings, and, crucially, we believe the passage of the COVID-19 Relief Bill makes that risk even more remote." Full report and analysis of current investments here; hXXps://tinyurl.com/y48rvsek
EJF – £6.7m investment in tenth risk retention securitisation The company has committed to make its tenth risk retention investment in the preferred shares of an upcoming securitisation sponsored by EJF Capital LLC. The securitisation, TruPS Financials Note Securitization 2020-2, priced on 24 November 2020, and, in connection with the pricing, the company committed to invest approximately £6.7m at closing, which is expected to occur in December 2020. The underlying collateral of TFINS 2020-2 mainly consists of trust preferred securities, subordinated debt senior notes, and surplus notes of 26 US banks and ten insurance companies with an aggregate par value of approximately $177m.
AR to 31/12/17 and illustrating a v good year: htTps://www.ejfi.com/media/1129/ejfi-final-draft-for-website.pdf
Liberum; EJF Investments (Mkt Cap £90m) 8% gain in January on market expansion Event EJFI Investments' (EJFI) January 2018 NAV per share was 171p, representing a monthly gain of 8.28% mainly due to the sale of two securities for a gain of c. £7.3m, which generated total sale proceeds of c. £15.8m. These REIT trust preferred securities (TruPS) CDO bonds started to receive cash flows in January, driving the valuation uplift that allowed EJFI to sell them as the secondary market continues to expand.The rest of the portfolio performed in line with expectations. In January, the Directors of EJFI declared the fourth quarter dividend of 2.5p per share (c. $0.03/share), an increase over last quarter’s dividend of 2.4p per share. The total dividend declared for full year 2017 was 9.7p per share. The 7.1% annualised dividend yield is higher than the initial target dividend of 6% p.a. driven by the company’s robust performance. EJFI is targeting an annual dividend of 10.0p per share for the financial year to 31 December 2018. During the month, the EJFI announced its intention to raise new capital under the company’s placing programme*. EJFI is seeking to raise £50m via a placing of new shares. Liberum view The TruPS sector continued to perform strongly in January as LIBOR moved up approximately 5% in the month to 1.78%. Five issuers redeemed their TruPS in January, one of which was held within EJFI’s TFINS 2017-1 position. There were 19 M&A deals in the U.S. banking sector in January at increased valuations (median P/TBV 19.1% higher year-over-year). We expect deal activity to remain robust driven by increasing interest rates, changing regulatory environment and positive U.S. economy. As LIBOR continues its upward trajectory further consolidation within the smaller U.S. banks should occur driving increased prepayment activity in EJFI's securitisation exposures and higher returns. The company is trading at a 3.5% discount to NAV and has a current yield of 6.1%. *Liberum is acting as sole bookrunner in relation to the placing.
Liberum; EJF Investment’s (EJFI) NAV per share at 31 December 2017 was 158p, representing a monthly gain of 2.53%. On 18 January 2018, EJFI sold two REIT TruPS CDO securities for a gain of £7.3m which generated total sale proceeds of £15.8m. The gain attributed c.12p per share to the December 2017 NAV (7.6% NAV uplift). In January, the Directors of EJFI have declared a final dividend of 2.5p per share in respect of the quarter ending 31 December 2017. It represents an increase of 0.1p per share over the last dividend. It is a 7.1% dividend yield on the NAV at inception and over the initial target dividend of 6% p.a. The total dividend YTD amounts to 9.7p per share. Liberum view We estimate a pro-forma NAV based on the gain from the two REIT TruPS CDO securities of 170p per share, a 7.6% increase over December's NAV. We expect the proceeds to be deployed in securitisations and related investments. EJFI provides shareholders a portfolio that is best positioned to benefit from tailwinds from rising interest rates, changes in regulations of small U.S. banks and significant tax cuts. We believe the significant tailwinds supporting EJFI's performance will continue and even intensify in 2018. EJFI is trading a 8.2% discount to its pro-forma NAV and has a current yield of 6.2%.
Liberum; Another strong month on positive developments for U.S. small banks Event EJF Investments' (EJFI) NAV per share as at 30 November 2017 was 154p, a 0.59% monthly gain based on continuing robust portfolio performance. During the month, the company made a new $7.5m investment in a 10-year subordinated bond issued by a $1.4bn asset U.S. bank. EJFI's YTD 2017 NAV total return is c. 20%. Liberum view EJFI had another strong month. The three main tailwinds continued to have positive impact on cash flows and the credit quality of the underlying assets. U.S. banking deregulation, rising interest rates and corporate tax cuts all had very positive developments in November and December. In November, the draft Regulatory Relief Bill (the bill) was introduced by U.S. senators. The bill includes provisions to raise SIFI (Systemically Important Financial Institution) threshold immediately to $100bn from $50bn of assets currently and for the Small Bank Holding Company Policy Statement to raise the threshold level to $3bn of assets from the current $1bn of assets and allow small banks to issue subordinated debt and receive Tier 1 treatment at their bank subsidiary. Market participants consider the deregulation of small U.S. banks a real possibility after similar suggestions were made by the US Treasury, the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency that in June 2017 proposed to effectively freeze all Basel III implementation for banks with less than $250bn of assets. U.S. tax reforms which have been passed provide for the reduction of the corporate tax rate from 35% to 21% between 2019 and 2025. This is highly significant for U.S. community banks and insurance companies and should enable them to improve capital levels, continue to make strategic acquisitions,and/or engage in capital management. At the same time, the Fed raised rates by 25 bps, the third rate increase this year. Market participants expect two or three rate increases in 2018. We believe that the level of M&A activity will continue to be high and may increase in the near term due to the changing regulatory environment and continued positive U.S. banking trends. EJFI is trading at a 0.3% premium to NAV and the current yield is 6.2%.
Liberum re. New 5.75% Zero - £15m gross proceeds from ZDP placing Event EJF Investments (EJFI) has raised gross proceeds of £15 million through the conditional placing of 15 million 2022 ZDP Shares pursuant to the First ZDP Placing. The First ZDP Placing is conditional upon the passing of certain resolutions at the company’s extraordinary general meeting to be held on 30 November 2017. Admission is expected on 1 December 2017.
httPS://www.ejfi.com/ EJF Investments Ltd (the “Company” or “EJFI”) is a closed-ended investment company investing in assets benefitting from regulatory and structural change in the financial services sector. The Company will seek to generate risk adjusted shareholder returns by investing in a diversified portfolio of long-term, cash-flow generating assets in three identified target investment areas, being risk retention, capital solutions and asset backed securities and specialty finance. htTPs://www.ejfi.com/media/1055/ejfi-june-investor-presentation_june-2017.pdf
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