Ellington Financial Inc. (NYSE:EFC) Receives $13.58 Consensus Price Target from Analysts

Shares of Ellington Financial Inc. (NYSE:EFC) have earned a consensus recommendation of “Buy” from the five research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.58.

Several equities research analysts have weighed in on the stock. B. Riley upgraded shares of Ellington Financial to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $14.00 price objective on shares of Ellington Financial in a research report on Thursday, January 23rd.

Ellington Financial Stock Performance

Shares of EFC stock opened at $12.69 on Tuesday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 9.69 and a beta of 1.97. Ellington Financial has a 52-week low of $10.88 and a 52-week high of $13.46. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. The company’s 50 day moving average is $12.35 and its 200 day moving average is $12.58.

Ellington Financial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, January 31st will be issued a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.29%. The ex-dividend date of this dividend is Friday, January 31st. Ellington Financial’s dividend payout ratio (DPR) is 119.08%.

Hedge Funds Weigh In On Ellington Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. lifted its stake in Ellington Financial by 146.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 726,779 shares of the financial services provider’s stock valued at $9,368,000 after acquiring an additional 431,945 shares during the period. Delphi Financial Group Inc. acquired a new position in Ellington Financial during the fourth quarter valued at $4,704,000. GraniteShares Advisors LLC purchased a new stake in Ellington Financial in the fourth quarter valued at $2,462,000. Strategic Financial Concepts LLC grew its position in Ellington Financial by 1,030.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 219,372 shares of the financial services provider’s stock worth $2,659,000 after purchasing an additional 199,972 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Ellington Financial by 28.6% during the 4th quarter. Van ECK Associates Corp now owns 872,588 shares of the financial services provider’s stock valued at $10,576,000 after buying an additional 194,153 shares during 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.