Ellington Financial (NYSE:EFC) Price Target Cut to $13.50 by Analysts at BTIG Research

Ellington Financial (NYSE:EFC) had its price objective trimmed by BTIG Research from $15.50 to $13.50 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

EFC has been the subject of several other reports. Keefe, Bruyette & Woods decreased their price objective on Ellington Financial from $14.00 to $13.25 and set an outperform rating for the company in a report on Wednesday, February 28th. StockNews.com cut shares of Ellington Financial from a hold rating to a sell rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Ellington Financial presently has an average rating of Moderate Buy and a consensus price target of $13.95.

Ellington Financial Price Performance

Shares of NYSE:EFC opened at $11.27 on Thursday. Ellington Financial has a 12 month low of $10.88 and a 12 month high of $14.21. The firm has a market capitalization of $958.20 million, a P/E ratio of 12.52 and a beta of 1.92. The company has a debt-to-equity ratio of 11.30, a current ratio of 46.75 and a quick ratio of 46.75. The company’s fifty day moving average price is $11.54 and its 200 day moving average price is $12.26.

Ellington Financial (NYSE:EFC) last posted its earnings results on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The firm had revenue of $27.99 million for the quarter, compared to analyst estimates of $30.77 million. Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. During the same quarter last year, the firm posted $0.42 EPS. As a group, sell-side analysts predict that Ellington Financial will post 1.53 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, April 30th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.56 annualized dividend and a yield of 13.85%. Ellington Financial’s dividend payout ratio is currently 173.34%.

Institutional Trading of Ellington Financial

Several hedge funds have recently made changes to their positions in EFC. MAS Advisors LLC purchased a new position in Ellington Financial during the first quarter worth about $446,000. Bank of New York Mellon Corp lifted its holdings in shares of Ellington Financial by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 467,891 shares of the financial services provider’s stock valued at $8,306,000 after buying an additional 3,263 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Ellington Financial by 126.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock valued at $25,000 after buying an additional 759 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Ellington Financial by 54.9% during the first quarter. MetLife Investment Management LLC now owns 28,857 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 10,227 shares during the period. Finally, Rhumbline Advisers raised its position in Ellington Financial by 6.8% in the first quarter. Rhumbline Advisers now owns 149,445 shares of the financial services provider’s stock worth $2,653,000 after acquiring an additional 9,534 shares in the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.

About Ellington Financial

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.