Ellington Financial (NYSE:EFC) Lifted to Hold at StockNews.com

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

Several other equities research analysts have also weighed in on EFC. JMP Securities restated a market outperform rating and set a $14.50 price target on shares of Ellington Financial in a research report on Thursday, April 18th. Jonestrading started coverage on shares of Ellington Financial in a research report on Friday, April 19th. They issued a hold rating on the stock. Keefe, Bruyette & Woods lowered their price target 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. Finally, BTIG Research cut their price objective on shares of Ellington Financial from $15.50 to $13.50 and set a buy rating on the stock in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Ellington Financial has an average rating of Moderate Buy and an average target price of $13.95.

Ellington Financial Trading Up 0.1 %

Shares of Ellington Financial stock traded up $0.01 during midday trading on Thursday, reaching $11.66. 621,373 shares of the company’s stock traded hands, compared to its average volume of 748,126. The stock has a 50 day moving average of $11.44 and a 200-day moving average of $12.19. The company has a market cap of $991.80 million, a PE ratio of 12.96 and a beta of 1.91. The company has a debt-to-equity ratio of 11.30, a quick ratio of 46.75 and a current ratio of 46.75. Ellington Financial has a 12 month low of $10.88 and a 12 month high of $14.21.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. The company had revenue of $27.99 million during the quarter, compared to analysts’ expectations of $30.77 million. During the same quarter last year, the business earned $0.42 earnings per share. As a group, equities analysts expect that Ellington Financial will post 1.53 EPS for the current fiscal year.

Ellington Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.13 per share. 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 13.38%. Ellington Financial’s dividend payout ratio is currently 173.34%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in Ellington Financial by 6.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 22,775 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 1,398 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Ellington Financial by 11.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 20,690 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 2,137 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Ellington Financial by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 535,652 shares of the financial services provider’s stock valued at $6,680,000 after purchasing an additional 5,700 shares during the period. New York State Teachers Retirement System lifted its position in Ellington Financial by 25.0% during the third quarter. New York State Teachers Retirement System now owns 21,000 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 4,200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ellington Financial by 61.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,196 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 8,071 shares during the last quarter. 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.