Ellington Financial (NYSE:EFC) Stock Price Expected to Rise, UBS Group Analyst Says

Ellington Financial (NYSE:EFC) had its target price increased by equities researchers at UBS Group from $12.00 to $12.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target would suggest a potential downside of 5.52% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. B. Riley lifted their target price on shares of Ellington Financial from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Piper Sandler decreased their target price on shares of Ellington Financial from $15.00 to $14.50 and set an “overweight” rating for the company in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ellington Financial currently has an average rating of “Moderate Buy” and an average target price of $14.30.

Ellington Financial Trading Down 0.1%

Ellington Financial stock opened at $13.23 on Thursday. The company has a 50 day moving average price of $12.90 and a 200 day moving average price of $12.79. Ellington Financial 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 11.11, a quick ratio of 42.26 and a current ratio of 42.26. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 9.38 and a beta of 0.98.

Ellington Financial (NYSE:EFC) last issued its 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 company had revenue of $82.91 million during the quarter, compared to analyst estimates of $107.06 million. Ellington Financial had a net margin of 101.59% and a return on equity of 12.06%. Research analysts forecast that Ellington Financial will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Ellington Financial

Several institutional investors and hedge funds have recently modified their holdings of EFC. Amundi acquired a new stake in shares of Ellington Financial in the 1st quarter valued at $6,418,000. Invesco Ltd. lifted its stake in shares of Ellington Financial by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,364,583 shares of the financial services provider’s stock valued at $28,659,000 after purchasing an additional 347,587 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Ellington Financial by 39.8% in the 4th quarter. Northern Trust Corp now owns 1,092,902 shares of the financial services provider’s stock valued at $13,246,000 after purchasing an additional 311,406 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Ellington Financial in the 1st quarter valued at $3,941,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Ellington Financial by 83.8% in the 4th quarter. JPMorgan Chase & Co. now owns 425,530 shares of the financial services provider’s stock valued at $5,157,000 after purchasing an additional 193,987 shares during the last quarter. 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.