Ellington Financial Inc. (NYSE:EFC) Receives $14.00 Consensus PT from Brokerages

Ellington Financial Inc. (NYSE:EFC) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $14.00.

Several research analysts have commented on the stock. Keefe, Bruyette & Woods lifted 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 shares of Ellington Financial to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JMP Securities reissued a “market outperform” rating and issued a $14.00 price objective on shares of Ellington Financial in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On Ellington Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its position in shares of 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 acquiring an additional 2,548 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in 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 raised its position 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 in the last quarter. AlphaQuest LLC purchased a new stake in shares of Ellington Financial in the 4th quarter worth $37,000. Finally, State of Wyoming purchased a new stake in shares of Ellington Financial in the 4th quarter worth $56,000. Institutional investors own 55.62% of the company’s stock.

Ellington Financial Stock Performance

Shares of NYSE:EFC opened at $13.27 on Friday. The firm has a fifty day simple moving average of $13.07 and a two-hundred day simple moving average of $12.67. Ellington Financial has a 52 week low of $10.88 and a 52 week 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. The stock has a market capitalization of $1.20 billion, a P/E ratio of 10.13 and a beta of 1.99.

Ellington Financial (NYSE:EFC) last issued 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. The business had revenue of $38.13 million for the quarter, compared to the consensus estimate of $112.88 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. On average, analysts expect that Ellington Financial will post 1.38 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently declared a mar 25 dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be issued a $0.13 dividend. This represents a dividend yield of 11.7%. The ex-dividend date is Monday, March 31st. Ellington Financial’s payout ratio is presently 113.04%.

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.