Ellington Financial Inc. (NYSE:EFC – Get Free Report) has been given an average rating of “Hold” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.25.
EFC has been the topic of several recent analyst reports. UBS Group boosted their target price on Ellington Financial from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, August 19th. Weiss Ratings downgraded Ellington Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Zacks Research lowered Ellington Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Piper Sandler decreased their price target on Ellington Financial from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 9th.
Read Our Latest Stock Report on EFC
Ellington Financial Stock Up 1.2%
EFC stock opened at $11.54 on Tuesday. Ellington Financial has a 52 week low of $11.27 and a 52 week high of $14.12. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 7.04 and a beta of 0.97. The firm’s 50-day moving average is $12.33 and its two-hundred day moving average is $12.89. The company has a current ratio of 52.06, a quick ratio of 52.06 and a debt-to-equity ratio of 10.39.
Ellington Financial (NYSE:EFC – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $134.11 million during the quarter, compared to analyst estimates of $114.59 million. Ellington Financial had a net margin of 52.43% and a return on equity of 16.61%. On average, analysts forecast that Ellington Financial will post 2.13 earnings per share for the current fiscal year.
Ellington Financial Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, October 30th will be issued a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a yield of 13.5%. The ex-dividend date of this dividend is Friday, October 30th. Ellington Financial’s payout ratio is presently 95.12%.
Institutional Investors Weigh In On Ellington Financial
A number of institutional investors and hedge funds have recently bought and sold shares of EFC. BlackRock Inc. bought a new position in shares of Ellington Financial during the 2nd quarter valued at about $284,144,000. Castlekeep Investment Advisors LLC acquired a new position in shares of Ellington Financial in the 2nd quarter worth approximately $1,210,000. Bank of America Corp DE raised its holdings in shares of Ellington Financial by 234.3% in the 1st quarter. Bank of America Corp DE now owns 537,199 shares of the financial services provider’s stock worth $6,366,000 after purchasing an additional 376,528 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Ellington Financial by 92.5% in the 1st quarter. California State Teachers Retirement System now owns 154,243 shares of the financial services provider’s stock worth $1,828,000 after purchasing an additional 74,135 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Ellington Financial by 13.6% in the 1st quarter. Bank of New York Mellon Corp now owns 810,885 shares of the financial services provider’s stock worth $9,609,000 after purchasing an additional 97,007 shares in the last quarter. 55.62% of the stock is owned by institutional investors and hedge funds.
About Ellington Financial
Ellington Financial Inc is a real estate investment trust (REIT) that acquires, invests in and manages a portfolio of mortgage-related and other financial assets. The company focuses primarily on residential and commercial mortgage loans, mortgage-backed securities and related investments.
Its investment activities may include agency and non-agency residential mortgage-backed securities, commercial mortgage-backed securities, residential and commercial mortgage loans, mortgage servicing rights and consumer loans.
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