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

Keefe, Bruyette & Woods upgraded shares of Ellington Financial (NYSE:EFCGet 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:EFCGet 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

(Get Rating)

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.

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Analyst Recommendations for Ellington Financial (NYSE:EFC)

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