Ellington Financial Inc. (NYSE:EFC) Receives Average Recommendation of “Hold” from Analysts

Shares of Ellington Financial Inc. (NYSE:EFCGet Rating) have earned an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $15.38.

EFC has been the subject of several recent research reports. JMP Securities reduced their price target on shares of Ellington Financial from $16.50 to $15.00 and set a “market outperform” rating for the company in a report on Thursday, October 20th. Maxim Group reduced their price target on shares of Ellington Financial from $17.50 to $15.50 and set a “buy” rating for the company in a report on Thursday, October 20th. Credit Suisse Group reduced their price target on shares of Ellington Financial to $14.00 in a report on Thursday, October 13th. StockNews.com initiated coverage on shares of Ellington Financial in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Piper Sandler reduced their price target on shares of Ellington Financial from $17.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, October 3rd.

Ellington Financial Trading Up 0.5 %

Shares of EFC opened at $12.97 on Monday. Ellington Financial has a 1-year low of $10.81 and a 1-year high of $18.13. The company has a 50-day moving average of $13.39 and a 200 day moving average of $13.98. The firm has a market capitalization of $783.89 million, a price-to-earnings ratio of -10.90 and a beta of 1.82. The company has a debt-to-equity ratio of 5.00, a current ratio of 21.09 and a quick ratio of 21.09.

Ellington Financial (NYSE:EFCGet Rating) last announced its quarterly earnings data on Monday, November 7th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Ellington Financial had a negative net margin of 40.37% and a positive return on equity of 9.99%. The company had revenue of $36.51 million during the quarter, compared to analyst estimates of $36.03 million. On average, research analysts expect that Ellington Financial will post 1.71 EPS for the current year.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, December 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.80 annualized dividend and a dividend yield of 13.88%. Ellington Financial’s dividend payout ratio (DPR) is presently -151.26%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EFC. MAS Advisors LLC bought a new position in shares of Ellington Financial during the 1st quarter worth approximately $446,000. Bank of New York Mellon Corp grew its position in Ellington Financial by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 467,891 shares of the financial services provider’s stock worth $8,306,000 after purchasing an additional 3,263 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Ellington Financial by 126.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 759 shares during the last quarter. MetLife Investment Management LLC grew its position in Ellington Financial by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 28,857 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 10,227 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Ellington Financial by 6.8% during the 1st quarter. Rhumbline Advisers now owns 149,445 shares of the financial services provider’s stock worth $2,653,000 after purchasing an additional 9,534 shares during the last quarter. Institutional investors own 54.02% of the company’s stock.

Ellington Financial Company Profile

(Get Rating)

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.

Featured Articles

Analyst Recommendations for Ellington Financial (NYSE:EFC)

Receive News & Ratings for Ellington Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Financial and related companies with MarketBeat.com's FREE daily email newsletter.