Ellington Financial (NYSE:EFC) Given New $14.50 Price Target at Keefe, Bruyette & Woods

Ellington Financial (NYSE:EFC) had its price objective hoisted by Keefe, Bruyette & Woods from $13.75 to $14.50 in a report issued on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and set a $14.00 price objective on shares of Ellington Financial in a report on Thursday, January 23rd. B. Riley raised Ellington Financial to a “strong-buy” rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ellington Financial presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Ellington Financial Stock Performance

NYSE EFC opened at $13.86 on Monday. The business has a 50-day moving average price of $12.60 and a 200-day moving average price of $12.63. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 10.58 and a beta of 1.97. Ellington Financial has a twelve month low of $10.88 and a twelve month high of $14.40. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The business had revenue of $38.13 million during the quarter, compared to analyst estimates of $112.88 million. As a group, equities research analysts predict that Ellington Financial will post 1.38 EPS for the current fiscal year.

Ellington Financial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.56 dividend on an annualized basis and a yield of 11.26%. Ellington Financial’s dividend payout ratio (DPR) is presently 113.04%.

Hedge Funds Weigh In On Ellington Financial

Several large investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in Ellington Financial by 18,200.0% during the fourth quarter. Larson Financial Group LLC now owns 2,562 shares of the financial services provider’s stock worth $31,000 after buying an additional 2,548 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Ellington Financial by 162.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,602 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,610 shares during the period. Sterling Capital Management LLC grew its holdings in Ellington Financial by 814.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,644 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 2,355 shares during the last quarter. AlphaQuest LLC purchased a new stake in Ellington Financial in the 4th quarter worth about $37,000. Finally, State of Wyoming bought a new stake in Ellington Financial in the fourth quarter worth about $56,000. Institutional investors own 55.62% of the company’s stock.

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.