Shares of Ellington Financial Inc. (NYSE:EFC – Get Rating) have been given a consensus recommendation of “Hold” by the six research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.81.
A number of analysts have recently weighed in on EFC shares. TheStreet downgraded shares of Ellington Financial from a “b” rating to a “c” rating in a report on Friday, May 6th. Piper Sandler cut their price target on shares of Ellington Financial from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, June 24th. JMP Securities cut their price target on shares of Ellington Financial from $20.00 to $17.50 and set a “market outperform” rating for the company in a report on Thursday, June 16th. StockNews.com downgraded shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Finally, Keefe, Bruyette & Woods downgraded shares of Ellington Financial from an “outperform” rating to a “market perform” rating and set a $14.75 price target for the company. in a report on Monday.
Hedge Funds Weigh In On Ellington Financial
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Several large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ellington Financial during the second quarter valued at $147,000. State of Alaska Department of Revenue raised its stake in shares of Ellington Financial by 13.0% during the second quarter. State of Alaska Department of Revenue now owns 42,880 shares of the financial services provider’s stock valued at $629,000 after acquiring an additional 4,925 shares during the last quarter. Bank of America Corp DE increased its position in shares of Ellington Financial by 45.1% during the first quarter. Bank of America Corp DE now owns 377,640 shares of the financial services provider’s stock worth $6,703,000 after buying an additional 117,420 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ellington Financial by 124.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,255,476 shares of the financial services provider’s stock worth $22,285,000 after buying an additional 696,392 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Ellington Financial during the first quarter worth $233,000. Institutional investors own 59.15% of the company’s stock.
Ellington Financial Stock Performance
Shares of NYSE:EFC opened at $15.00 on Monday. The company’s 50 day moving average price is $14.99 and its two-hundred day moving average price is $16.53. Ellington Financial has a 12-month low of $12.74 and a 12-month high of $18.95. The firm has a market cap of $900.69 million, a PE ratio of 9.38 and a beta of 1.81. The company has a quick ratio of 39.86, a current ratio of 39.86 and a debt-to-equity ratio of 3.91.
Ellington Financial (NYSE:EFC – Get Rating) last announced its earnings results on Thursday, May 5th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). Ellington Financial had a return on equity of 9.86% and a net margin of 63.71%. The business had revenue of $37.06 million for the quarter, compared to analyst estimates of $39.16 million. During the same quarter in the previous year, the company earned $0.43 EPS. Equities research analysts predict that Ellington Financial will post 1.77 earnings per share for the current year.
Ellington Financial Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 25th. Investors of record on Friday, July 29th will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a yield of 12.00%. The ex-dividend date is Thursday, July 28th. Ellington Financial’s payout ratio is 112.50%.
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 residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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