Ellington Financial Inc. (NYSE:EFC) Receives $14.46 Average PT from Brokerages

Shares of Ellington Financial Inc. (NYSE:EFC) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $14.4583.

Several research firms have issued reports on EFC. UBS Group lifted their price target on shares of Ellington Financial from $12.50 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Zacks Research lowered Ellington Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ellington Financial in a report on Wednesday, October 8th.

Ellington Financial Price Performance

Shares of Ellington Financial stock opened at $13.80 on Tuesday. Ellington Financial has a 52 week low of $11.12 and a 52 week high of $14.40. The company has a current ratio of 50.60, a quick ratio of 50.60 and a debt-to-equity ratio of 10.64. The stock has a market cap of $1.48 billion, a PE ratio of 10.30 and a beta of 0.95. The company’s 50-day moving average price is $13.62 and its two-hundred day moving average price is $13.35.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. Ellington Financial had a net margin of 89.04% and a return on equity of 14.55%. The company had revenue of $242.08 million for the quarter, compared to analysts’ expectations of $121.99 million. As a group, sell-side analysts anticipate that Ellington Financial will post 1.38 EPS for the current fiscal year.

Ellington Financial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 11.3%. Ellington Financial’s dividend payout ratio (DPR) is currently 116.42%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Ellington Financial by 67.6% during the second quarter. CWM LLC now owns 2,010 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 811 shares during the period. Huntington National Bank grew its position in Ellington Financial by 134.4% during the 2nd quarter. Huntington National Bank now owns 2,752 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,578 shares in the last quarter. Danske Bank A S purchased a new position in Ellington Financial during the 3rd quarter worth approximately $44,000. Steward Partners Investment Advisory LLC raised its stake in Ellington Financial by 93.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,582 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,735 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Ellington Financial by 535.9% in the third quarter. Hantz Financial Services Inc. now owns 6,181 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 5,209 shares in the last quarter. 55.62% of the stock is currently owned by institutional investors and hedge funds.

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.