Deutsche Bank AG Sells 7,869 Shares of Ellington Financial Inc. $EFC

Deutsche Bank AG trimmed its position in shares of Ellington Financial Inc. (NYSE:EFC) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,326 shares of the financial services provider’s stock after selling 7,869 shares during the quarter. Deutsche Bank AG owned 0.06% of Ellington Financial worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Ellington Financial by 4.5% during the 1st quarter. Bank of New York Mellon Corp now owns 671,272 shares of the financial services provider’s stock worth $8,901,000 after acquiring an additional 29,188 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Ellington Financial during the 4th quarter worth $264,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Ellington Financial by 15.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 156,250 shares of the financial services provider’s stock worth $1,894,000 after acquiring an additional 21,324 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ellington Financial by 4,459.3% during the 1st quarter. GAMMA Investing LLC now owns 63,648 shares of the financial services provider’s stock worth $844,000 after acquiring an additional 62,252 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Ellington Financial by 32.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 28,238 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 6,892 shares during the last quarter. 55.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EFC shares. B. Riley lifted their price objective on shares of Ellington Financial from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Piper Sandler cut their price objective on shares of Ellington Financial from $15.00 to $14.50 and set an “overweight” rating on the stock in a report on Tuesday, July 1st. UBS Group boosted their price target on shares of Ellington Financial from $12.00 to $12.50 and gave the stock a “neutral” rating in a report on Thursday, July 10th. Jones Trading raised shares of Ellington Financial from a “hold” rating to a “buy” rating and set a $14.25 price target on the stock in a report on Wednesday, August 13th. Finally, Zacks Research raised shares of Ellington Financial to a “strong-buy” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ellington Financial currently has an average rating of “Buy” and an average price target of $14.29.

Ellington Financial Trading Down 1.1%

Shares of Ellington Financial stock opened at $13.86 on Tuesday. Ellington Financial Inc. has a 52-week low of $11.12 and a 52-week high of $14.40. The stock’s 50-day simple moving average is $13.18 and its 200 day simple moving average is $12.99. The stock has a market capitalization of $1.38 billion, a P/E ratio of 11.18 and a beta of 1.00. The company has a debt-to-equity ratio of 10.96, a quick ratio of 46.78 and a current ratio of 46.78.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Ellington Financial had a return on equity of 13.56% and a net margin of 89.52%.The business had revenue of $92.54 million for the quarter, compared to analysts’ expectations of $112.48 million. As a group, research analysts anticipate that Ellington Financial Inc. will post 1.38 EPS for the current year.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. This represents a c) dividend on an annualized basis and a yield of 11.3%. The ex-dividend date is Friday, August 29th. Ellington Financial’s payout ratio is currently 125.81%.

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.