Ellington Financial Inc. (NYSE:EFC) Receives $13.85 Average PT from Brokerages

Shares of Ellington Financial Inc. (NYSE:EFC) have earned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $13.85.

Separately, JMP Securities decreased their target price on shares of Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 24th.

Ellington Financial Stock Performance

Shares of NYSE:EFC opened at $12.48 on Thursday. The business’s 50-day simple moving average is $12.93 and its 200 day simple moving average is $12.34. Ellington Financial has a one year low of $10.88 and a one year high of $13.46. The company has a debt-to-equity ratio of 10.84, a quick ratio of 73.16 and a current ratio of 73.16. The company has a market cap of $1.06 billion, a P/E ratio of 19.50 and a beta of 1.98.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $33.60 million for the quarter, compared to the consensus estimate of $37.20 million. Ellington Financial had a net margin of 103.55% and a return on equity of 9.76%. During the same quarter last year, the company earned $0.38 earnings per share. On average, sell-side analysts forecast that Ellington Financial will post 1.37 earnings per share for the current fiscal year.

Ellington Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 25th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a yield of 12.50%. The ex-dividend date of this dividend is Thursday, October 31st. Ellington Financial’s dividend payout ratio is presently 243.75%.

Institutional Trading of Ellington Financial

Institutional investors have recently made changes to their positions in the stock. CWM LLC grew its stake in Ellington Financial by 150.2% in the second quarter. CWM LLC now owns 2,602 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 1,562 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Ellington Financial by 1,667.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266,746 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Ellington Financial by 35.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 992 shares in the last quarter. PFG Investments LLC acquired a new position in Ellington Financial during the second quarter worth $141,000. Finally, Creative Planning bought a new position in Ellington Financial during the third quarter valued at about $141,000. 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.