Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in Ellington Financial Inc. (NYSE:EFC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Ellington Financial Inc. (NYSE:EFC) by 27.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,316 shares of the financial services provider’s stock after selling 5,880 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ellington Financial were worth $195,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EFC. Vanguard Group Inc. increased its stake in shares of Ellington Financial by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,263,422 shares of the financial services provider’s stock worth $53,165,000 after acquiring an additional 53,357 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ellington Financial by 1.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,571,277 shares of the financial services provider’s stock worth $19,594,000 after acquiring an additional 27,118 shares during the last quarter. Invesco Ltd. increased its stake in shares of Ellington Financial by 32.2% in the 3rd quarter. Invesco Ltd. now owns 1,388,380 shares of the financial services provider’s stock worth $17,313,000 after acquiring an additional 338,434 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ellington Financial by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 547,084 shares of the financial services provider’s stock worth $6,822,000 after acquiring an additional 46,615 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Ellington Financial by 1.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 535,652 shares of the financial services provider’s stock worth $6,680,000 after acquiring an additional 5,700 shares during the last quarter. Hedge funds and other institutional investors own 55.62% of the company’s stock.

Ellington Financial Stock Performance

Shares of EFC stock opened at $11.62 on Wednesday. The firm has a 50 day moving average of $11.44 and a two-hundred day moving average of $12.18. The stock has a market capitalization of $988.40 million, a PE ratio of 12.91 and a beta of 1.91. The company has a quick ratio of 46.75, a current ratio of 46.75 and a debt-to-equity ratio of 11.30. Ellington Financial Inc. has a 52 week low of $10.88 and a 52 week high of $14.21.

Ellington Financial (NYSE:EFC) last released 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). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The company had revenue of $27.99 million during the quarter, compared to analysts’ expectations of $30.77 million. During the same quarter last year, the business posted $0.42 earnings per share. On average, research analysts predict that Ellington Financial Inc. will post 1.53 EPS for the current fiscal year.

Ellington Financial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, April 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.43%. Ellington Financial’s payout ratio is 173.34%.

Analyst Ratings Changes

EFC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their target price on Ellington Financial from $14.00 to $13.25 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. StockNews.com raised Ellington Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Jonestrading assumed coverage on Ellington Financial in a research report on Friday, April 19th. They set a “hold” rating for the company. BTIG Research cut their price objective on Ellington Financial from $15.50 to $13.50 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $14.50 price objective on shares of Ellington Financial in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ellington Financial has a consensus rating of “Moderate Buy” and an average price target of $13.95.

About Ellington Financial

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.