JMP Securities Reiterates “Market Outperform” Rating for Ellington Financial (NYSE:EFC)

Ellington Financial (NYSE:EFC)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a note issued to investors on Thursday, Benzinga reports. They presently have a $14.50 price objective on the financial services provider’s stock. JMP Securities’ price target points to a potential upside of 27.08% from the stock’s current price.

Several other brokerages have also recently commented on EFC. BTIG Research decreased their target price on Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods decreased their price objective on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, StockNews.com downgraded shares of Ellington Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.95.

Ellington Financial Trading Up 1.2 %

Shares of EFC stock opened at $11.41 on Thursday. The company has a market capitalization of $970.50 million, a P/E ratio of 12.68 and a beta of 1.92. Ellington Financial has a 12-month low of $10.88 and a 12-month high of $14.21. The company has a quick ratio of 46.75, a current ratio of 46.75 and a debt-to-equity ratio of 11.30. The firm has a 50-day moving average price of $11.53 and a 200 day moving average price of $12.26.

Ellington Financial (NYSE:EFC) last posted its earnings results on Monday, February 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The firm had revenue of $27.99 million during the quarter, compared to the consensus estimate of $30.77 million. Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. During the same quarter last year, the firm posted $0.42 EPS. Research analysts forecast that Ellington Financial will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ellington Financial

Several institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Ellington Financial by 126.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 759 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Ellington Financial in the 2nd quarter valued at $33,000. Tower Research Capital LLC TRC boosted its position in shares of Ellington Financial by 65.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,742 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,086 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Ellington Financial during the first quarter worth $62,000. Finally, Qube Research & Technologies Ltd bought a new stake in Ellington Financial in the third quarter valued at about $45,000. Institutional investors and hedge funds own 55.62% of the company’s stock.

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.