Bank of America Corp DE Has $2.38 Million Position in Ellington Financial Inc. (NYSE:EFC)

Bank of America Corp DE increased its position in Ellington Financial Inc. (NYSE:EFC) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 196,381 shares of the financial services provider’s stock after buying an additional 1,648 shares during the period. Bank of America Corp DE owned 0.22% of Ellington Financial worth $2,380,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EFC. Longboard Asset Management LP acquired a new position in Ellington Financial during the fourth quarter valued at approximately $179,000. CenterStar Asset Management LLC acquired a new position in Ellington Financial during the fourth quarter valued at approximately $136,000. State of Alaska Department of Revenue grew its holdings in Ellington Financial by 3.9% during the fourth quarter. State of Alaska Department of Revenue now owns 51,525 shares of the financial services provider’s stock valued at $624,000 after purchasing an additional 1,918 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Ellington Financial by 1,030.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 219,372 shares of the financial services provider’s stock valued at $2,659,000 after purchasing an additional 199,972 shares during the last quarter. Finally, Advisors Preferred LLC acquired a new position in Ellington Financial during the fourth quarter valued at approximately $432,000. Institutional investors and hedge funds own 55.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EFC. Keefe, Bruyette & Woods raised their price objective on shares of Ellington Financial from $13.75 to $14.50 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. B. Riley raised their price objective on shares of Ellington Financial from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, UBS Group restated a “neutral” rating on shares of Ellington Financial in a research note on Wednesday, May 14th.

Ellington Financial Stock Down 1.5%

Shares of NYSE EFC opened at $12.39 on Tuesday. The stock has a market cap of $1.17 billion, a PE ratio of 9.45 and a beta of 1.01. The business has a fifty day moving average of $12.66 and a two-hundred day moving average of $12.67. Ellington Financial Inc. has a 52-week low of $11.12 and a 52-week high of $14.40. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04.

Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $82.91 million during the quarter, compared to analysts’ expectations of $107.06 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. As a group, equities research analysts expect that Ellington Financial Inc. will post 1.38 earnings per share for the current fiscal year.

Ellington Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be given a $0.13 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.56 dividend on an annualized basis and a yield of 12.60%. Ellington Financial’s payout ratio is 110.64%.

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.