Brokerages Set Ellington Financial Inc. (NYSE:EFC) PT at $13.85

Ellington Financial Inc. (NYSE:EFC) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.85.

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

Ellington Financial Price Performance

Shares of NYSE:EFC opened at $12.48 on Thursday. The business’s 50 day moving average is $12.93 and its 200-day moving average is $12.34. The company has a current ratio of 73.16, a quick ratio of 73.16 and a debt-to-equity ratio of 10.84. The firm has a market capitalization of $1.06 billion, a PE ratio of 19.50 and a beta of 1.98. Ellington Financial has a 1-year low of $10.88 and a 1-year high of $13.46.

Ellington Financial (NYSE:EFC) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $33.60 million during 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 period in the previous year, the firm earned $0.38 EPS. Sell-side analysts predict that Ellington Financial will post 1.37 earnings per share for the current year.

Ellington Financial Announces Dividend

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

Institutional Trading of Ellington Financial

Several hedge funds have recently modified their holdings of the stock. CWM LLC lifted its holdings in Ellington Financial by 150.2% during the 2nd quarter. CWM LLC now owns 2,602 shares of the financial services provider’s stock worth $31,000 after buying 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 period. PNC Financial Services Group Inc. boosted its position in shares of Ellington Financial by 35.9% in the 4th 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 during the last quarter. PFG Investments LLC acquired a new stake in shares of Ellington Financial during the second quarter worth $141,000. Finally, Creative Planning acquired a new position in Ellington Financial in the third quarter valued at about $141,000. 55.62% of the stock is owned by institutional investors.

Ellington Financial Company Profile

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.