Ellington Financial (EFC) Earns Buy Rating from Maxim Group

Maxim Group reissued their buy rating on shares of Ellington Financial (NYSE:EFC) in a research report sent to investors on Tuesday. They currently have a $19.00 target price on the financial services provider’s stock.

“3Q17 book value of $18.84 (versus $18.96 in 3Q17) implies 3Q17 EPS of $0.29 (assuming no share buybacks), versus our $0.31 estimate. Price target of $19 equates to 1.0x book value.”,” the firm’s analyst commented.

EFC has been the subject of a number of other reports. Deutsche Bank lowered their target price on shares of Ellington Financial from $18.00 to $17.00 and set a buy rating for the company in a report on Wednesday, November 8th. ValuEngine upgraded shares of Ellington Financial from a hold rating to a buy rating in a report on Friday, December 1st. Sandler O’Neill began coverage on shares of Ellington Financial in a report on Wednesday, December 6th. They issued a buy rating and a $17.00 target price for the company. Zacks Investment Research downgraded shares of Ellington Financial from a hold rating to a strong sell rating in a report on Thursday, November 9th. Finally, B. Riley downgraded shares of Ellington Financial from a buy rating to a neutral rating and lowered their target price for the company from $17.50 to $16.00 in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $17.25.

Ellington Financial (EFC) traded up $0.12 during trading on Tuesday, reaching $15.01. 116,349 shares of the company were exchanged, compared to its average volume of 150,682. Ellington Financial has a 52-week low of $14.45 and a 52-week high of $17.00. The stock has a market capitalization of $478.91, a P/E ratio of 17.06 and a beta of 0.41. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 1.91.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.64 dividend on an annualized basis and a yield of 10.93%. Ellington Financial’s dividend payout ratio (DPR) is 186.36%.

Hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC acquired a new position in Ellington Financial during the second quarter valued at approximately $1,003,000. Virtu KCG Holdings LLC lifted its position in Ellington Financial by 254.7% during the second quarter. Virtu KCG Holdings LLC now owns 44,243 shares of the financial services provider’s stock valued at $717,000 after buying an additional 31,768 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Ellington Financial during the second quarter valued at approximately $405,000. FMR LLC lifted its position in Ellington Financial by 24.0% during the second quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after buying an additional 294,734 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Ellington Financial during the second quarter valued at approximately $1,245,000. 45.70% of the stock is currently owned by hedge funds and other institutional investors.

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Ellington Financial Company Profile

Analyst Recommendations for Ellington Financial (NYSE:EFC)

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