Ellington Financial Inc. (NYSE:EFC) Receives $13.95 Consensus Price Target from Brokerages

Shares of Ellington Financial Inc. (NYSE:EFC) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.95.

A number of brokerages recently issued reports on EFC. JMP Securities reiterated a “market outperform” rating and issued a $14.50 target price on shares of Ellington Financial in a report on Thursday, April 18th. BTIG Research lowered their price target on Ellington Financial from $15.50 to $13.50 and set a “buy” rating for the company in a research report on Thursday, April 18th. StockNews.com raised Ellington Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Jonestrading started coverage on Ellington Financial in a research report on Friday, April 19th. They issued a “hold” rating for the company.

Ellington Financial Price Performance

Shares of EFC opened at $12.15 on Tuesday. Ellington Financial has a 12-month low of $10.88 and a 12-month high of $14.21. The business’s fifty day moving average is $11.98 and its 200 day moving average is $11.99. The company has a quick ratio of 46.79, a current ratio of 46.79 and a debt-to-equity ratio of 10.99. The stock has a market cap of $1.03 billion, a P/E ratio of 18.98 and a beta of 1.97.

Ellington Financial (NYSE:EFC) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. The firm had revenue of $31.06 million during the quarter, compared to the consensus estimate of $26.68 million. Sell-side analysts anticipate that Ellington Financial will post 1.48 earnings per share for the current fiscal year.

Ellington Financial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Friday, June 28th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, June 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.84%. Ellington Financial’s dividend payout ratio (DPR) is presently 243.75%.

Insider Activity

In other news, CIO Michael W. Vranos sold 8,300 shares of Ellington Financial stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $12.15, for a total transaction of $100,845.00. Following the completion of the sale, the executive now owns 160,874 shares in the company, valued at approximately $1,954,619.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CIO Michael W. Vranos sold 8,300 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $12.15, for a total transaction of $100,845.00. Following the transaction, the executive now directly owns 160,874 shares of the company’s stock, valued at approximately $1,954,619.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CIO Michael W. Vranos sold 5,900 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total value of $71,508.00. Following the transaction, the executive now directly owns 179,655 shares in the company, valued at $2,177,418.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,500 shares of company stock worth $272,866. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ellington Financial

A number of large investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Ellington Financial in the 1st quarter worth approximately $163,000. Price T Rowe Associates Inc. MD increased its stake in Ellington Financial by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,094 shares of the financial services provider’s stock worth $639,000 after purchasing an additional 2,500 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Ellington Financial by 6.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 105,288 shares of the financial services provider’s stock worth $1,242,000 after purchasing an additional 6,517 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new position in Ellington Financial in the 1st quarter worth approximately $358,000. Finally, MAS Advisors LLC increased its stake in Ellington Financial by 31.5% in the 1st quarter. MAS Advisors LLC now owns 37,265 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 8,930 shares during the period. 55.62% of the stock is owned by hedge funds and other institutional investors.

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.