Shares of Ellington Financial Inc (NYSE:EFC) have received a consensus rating of “Buy” from the eight brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $13.50.
EFC has been the subject of a number of analyst reports. Bank of America began coverage on Ellington Financial in a research note on Monday, July 13th. They set a “neutral” rating and a $11.50 price objective for the company. TheStreet upgraded shares of Ellington Financial from a “d+” rating to a “c-” rating in a report on Friday, August 7th. BofA Securities assumed coverage on shares of Ellington Financial in a research report on Monday, July 13th. They issued a “neutral” rating and a $11.50 price objective on the stock. B. Riley increased their target price on shares of Ellington Financial from $12.50 to $14.00 in a research report on Wednesday, October 14th. Finally, Zacks Investment Research raised shares of Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a report on Tuesday, August 11th.
Shares of NYSE:EFC traded down $0.25 during trading hours on Friday, hitting $12.89. The company’s stock had a trading volume of 4,200 shares, compared to its average volume of 658,930. The firm’s fifty day moving average price is $12.68 and its 200 day moving average price is $11.50. Ellington Financial has a 52 week low of $3.24 and a 52 week high of $19.12. The company has a market capitalization of $575.24 million, a price-to-earnings ratio of -9.45 and a beta of 2.06. The company has a debt-to-equity ratio of 3.14, a current ratio of 57.68 and a quick ratio of 57.68.
The business also recently announced a monthly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, October 30th will be given a dividend of $0.09 per share. This represents a $1.08 annualized dividend and a yield of 8.38%. The ex-dividend date of this dividend is Thursday, October 29th. Ellington Financial’s dividend payout ratio is presently 59.34%.
Institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its position in Ellington Financial by 37.7% during the third quarter. Nisa Investment Advisors LLC now owns 20,636 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 5,647 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Ellington Financial by 41.4% during the 2nd quarter. Principal Financial Group Inc. now owns 83,652 shares of the financial services provider’s stock worth $985,000 after purchasing an additional 24,507 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Ellington Financial by 8.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 271,434 shares of the financial services provider’s stock valued at $3,198,000 after purchasing an additional 21,599 shares in the last quarter. Kingstown Capital Management L.P. acquired a new position in shares of Ellington Financial in the 2nd quarter valued at $14,725,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Ellington Financial by 227.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,974 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 3,455 shares during the period. Institutional investors and hedge funds own 63.97% of the company’s stock.
Ellington Financial Company Profile
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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