Ellington Financial (NYSE:EFC) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Ellington Financial (NYSE:EFC) from a sell rating to a hold rating in a research report report published on Thursday.

A number of other equities research analysts also recently commented on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Ellington Financial from $14.00 to $13.25 and set an outperform rating for the company in a research report on Wednesday, February 28th. Jonestrading initiated coverage on Ellington Financial in a research note on Friday, April 19th. They issued a hold rating on the stock. BTIG Research cut their price objective on Ellington Financial from $15.50 to $13.50 and set a buy rating for the company in a research report on Thursday, April 18th. Finally, JMP Securities restated a market outperform rating and set a $14.50 target price on shares of Ellington Financial in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Ellington Financial presently has an average rating of Moderate Buy and a consensus price target of $13.95.

Ellington Financial Stock Up 0.1 %

NYSE EFC traded up $0.01 during trading hours on Thursday, hitting $11.66. 621,373 shares of the company were exchanged, compared to its average volume of 748,126. The company has a quick ratio of 46.75, a current ratio of 46.75 and a debt-to-equity ratio of 11.30. The firm has a market cap of $991.80 million, a price-to-earnings ratio of 12.96 and a beta of 1.91. The company has a 50 day moving average of $11.44 and a two-hundred day moving average of $12.19. Ellington Financial has a 52-week low of $10.88 and a 52-week high of $14.21.

Ellington Financial (NYSE:EFC) last released its earnings results on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. The firm had revenue of $27.99 million for the quarter, compared to analysts’ expectations of $30.77 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. Equities research analysts anticipate that Ellington Financial will post 1.53 earnings per share for the current year.

Ellington Financial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, April 29th. This represents a $1.56 annualized dividend and a yield of 13.38%. Ellington Financial’s dividend payout ratio (DPR) is currently 173.34%.

Institutional Trading of Ellington Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Ellington Financial by 1.3% during the third quarter. Vanguard Group Inc. now owns 4,263,422 shares of the financial services provider’s stock valued at $53,165,000 after acquiring an additional 53,357 shares during the last quarter. Easterly Investment Partners LLC acquired a new position in Ellington Financial in the 1st quarter valued at about $23,326,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ellington Financial by 1.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,571,277 shares of the financial services provider’s stock valued at $19,594,000 after purchasing an additional 27,118 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Ellington Financial by 32.2% during the 3rd quarter. Invesco Ltd. now owns 1,388,380 shares of the financial services provider’s stock worth $17,313,000 after purchasing an additional 338,434 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Ellington Financial by 509.5% during the fourth quarter. UBS Group AG now owns 774,816 shares of the financial services provider’s stock worth $9,848,000 after buying an additional 647,700 shares in the last quarter. Hedge funds and other 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.