Ellington Financial (NYSE:EFC) Upgraded by Keefe, Bruyette & Woods to Outperform

Keefe, Bruyette & Woods upgraded shares of Ellington Financial (NYSE:EFC – Get Rating) from a market perform rating to an outperform rating in a research note released on Monday morning, The Fly reports. Keefe, Bruyette & Woods currently has $13.75 target price on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Ellington Financial from a hold rating to a sell rating in a research note on Friday, April 14th. JMP Securities decreased their target price on Ellington Financial from $15.00 to $13.50 and set an outperform rating on the stock in a research report on Friday, April 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Ellington Financial has a consensus rating of Moderate Buy and a consensus target price of $14.35.

Ellington Financial Price Performance

EFC opened at $12.46 on Monday. The stock’s 50 day simple moving average is $12.06 and its 200 day simple moving average is $12.96. The company has a debt-to-equity ratio of 12.49, a current ratio of 41.89 and a quick ratio of 41.89. Ellington Financial has a 1 year low of $10.81 and a 1 year high of $16.38. The firm has a market cap of $836.84 million, a price-to-earnings ratio of -18.32 and a beta of 1.87.

Ellington Financial (NYSE:EFC – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Ellington Financial had a positive return on equity of 10.72% and a negative net margin of 49.88%. The business had revenue of $30.17 million during the quarter, compared to the consensus estimate of $34.48 million. As a group, analysts predict that Ellington Financial will post 1.82 earnings per share for the current year.

Ellington Financial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 26th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.45%. The ex-dividend date of this dividend is Tuesday, May 30th. Ellington Financial’s dividend payout ratio (DPR) is presently -264.71%.

Institutional Investors Weigh In On Ellington Financial

Several institutional investors have recently bought and sold shares of EFC. Corton Capital Inc. acquired a new position in Ellington Financial during the first quarter worth $148,000. Quarry LP purchased a new position in shares of Ellington Financial during the first quarter worth about $53,000. Deutsche Bank AG grew its holdings in shares of Ellington Financial by 50.8% during the first quarter. Deutsche Bank AG now owns 44,953 shares of the financial services provider’s stock worth $549,000 after buying an additional 15,143 shares during the last quarter. Ranger Global Real Estate Advisors LLC lifted its position in Ellington Financial by 0.7% in the first quarter. Ranger Global Real Estate Advisors LLC now owns 2,294,662 shares of the financial services provider’s stock valued at $28,018,000 after purchasing an additional 16,277 shares during the period. Finally, Ensign Peak Advisors Inc lifted its position in shares of Ellington Financial by 11.1% during the 1st quarter. Ensign Peak Advisors Inc now owns 74,800 shares of the financial services provider’s stock valued at $913,000 after acquiring an additional 7,450 shares during the period. 54.02% of the stock is currently owned by institutional investors and hedge funds.

Ellington Financial Company Profile

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Ellington Financial, Inc engages in the provision of investment services. It operates through the Investment Portfolio and Longbridge segments. The Investment Portfolio segment is focused on investing in a diverse array of financial assets, which includes residential and commercial mortgage loans, residential mortgage-backed securities, commercial mortgage-backed securities, and consumer loans.