Ellington Financial Inc. (NYSE:EFC) Receives $13.85 Consensus PT from Analysts

Ellington Financial Inc. (NYSE:EFC) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.85.

Separately, JMP Securities reduced their target price on shares of Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 24th.

Ellington Financial Stock Performance

Shares of NYSE EFC opened at $12.82 on Thursday. The company has a market cap of $1.09 billion, a PE ratio of 20.02 and a beta of 1.98. Ellington Financial has a 12 month low of $10.88 and a 12 month high of $13.46. The company has a debt-to-equity ratio of 10.84, a current ratio of 73.16 and a quick ratio of 73.16. The company has a 50-day simple moving average of $12.95 and a 200-day simple moving average of $12.36.

Ellington Financial (NYSE:EFC) last released its earnings results on Tuesday, August 6th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Ellington Financial had a return on equity of 9.76% and a net margin of 103.55%. The company had revenue of $33.60 million during the quarter, compared to analyst estimates of $37.20 million. During the same period in the prior year, the business posted $0.38 earnings per share. On average, equities analysts anticipate that Ellington Financial will post 1.37 earnings per share for the current year.

Ellington Financial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 25th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.56 annualized dividend and a yield of 12.17%. Ellington Financial’s payout ratio is 243.75%.

Insider Buying and Selling at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $12.48, for a total transaction of $174,720.00. Following the completion of the sale, the executive now owns 168,359 shares in the company, valued at $2,101,120.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Ellington Financial

Several hedge funds and other institutional investors have recently modified their holdings of EFC. CWM LLC lifted its holdings in Ellington Financial by 150.2% in the second quarter. CWM LLC now owns 2,602 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,562 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Ellington Financial by 1,667.2% in the second quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 266,746 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Ellington Financial by 35.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 992 shares during the period. Members Trust Co acquired a new stake in Ellington Financial in the third quarter worth about $129,000. Finally, PFG Investments LLC acquired a new stake in Ellington Financial in the second quarter worth about $141,000. Institutional investors and hedge funds own 55.62% of the company’s stock.

Ellington Financial Company Profile

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.