Ellington Financial (NYSE:EFC) Now Covered by Analysts at Jonestrading

Jonestrading began coverage on shares of Ellington Financial (NYSE:EFC) in a report issued on Friday morning, Benzinga reports. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other analysts have also issued reports on EFC. Keefe, Bruyette & Woods decreased their price objective on Ellington Financial from $14.00 to $13.25 and set an outperform rating on the stock in a research note on Wednesday, February 28th. BTIG Research decreased their price objective on Ellington Financial from $15.50 to $13.50 and set a buy rating on the stock in a research note on Thursday. JMP Securities reiterated a market outperform rating and set a $14.50 price objective on shares of Ellington Financial in a research note on Thursday. Finally, StockNews.com lowered Ellington Financial from a hold rating to a sell rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Ellington Financial presently has a consensus rating of Hold and an average price target of $13.95.

Ellington Financial Stock Up 1.2 %

Shares of NYSE EFC opened at $11.41 on Friday. Ellington Financial has a one year low of $10.88 and a one year high of $14.21. The company has a debt-to-equity ratio of 11.30, a current ratio of 46.75 and a quick ratio of 46.75. The business’s fifty day moving average price is $11.53 and its 200-day moving average price is $12.26. The stock has a market capitalization of $970.53 million, a PE ratio of 12.68 and a beta of 1.92.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The firm had revenue of $27.99 million for the quarter, compared to analysts’ expectations of $30.77 million. During the same period in the prior year, the company earned $0.42 EPS. On average, equities research analysts anticipate that Ellington Financial will post 1.53 EPS 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 paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.56 dividend on an annualized basis and a yield of 13.67%. Ellington Financial’s dividend payout ratio is currently 173.34%.

Hedge Funds Weigh In On Ellington Financial

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in Ellington Financial by 126.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 759 shares during the last quarter. Captrust Financial Advisors bought a new position in Ellington Financial in the 2nd quarter worth about $33,000. Tower Research Capital LLC TRC increased its stake in Ellington Financial by 65.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,742 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,086 shares during the last quarter. Quantbot Technologies LP bought a new position in Ellington Financial in the 1st quarter worth about $62,000. Finally, Qube Research & Technologies Ltd bought a new position in Ellington Financial in the 3rd quarter worth about $45,000. 55.62% of the stock is currently owned by institutional investors.

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.