Ellington Financial (NYSE:EFC) Given New $13.00 Price Target at JonesTrading

Ellington Financial (NYSE:EFC) had its target price dropped by equities researchers at JonesTrading from $14.50 to $13.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. JonesTrading‘s price objective would suggest a potential upside of 13.10% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Ellington Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Piper Sandler reduced their price target on shares of Ellington Financial from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. UBS Group boosted their price objective on shares of Ellington Financial from $14.00 to $14.50 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings cut Ellington Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Ellington Financial has a consensus rating of “Hold” and a consensus target price of $13.83.

Ellington Financial Trading Down 3.0%

EFC opened at $11.49 on Thursday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 6.92 and a beta of 1.01. The company has a quick ratio of 52.06, a current ratio of 52.06 and a debt-to-equity ratio of 10.39. Ellington Financial has a twelve month low of $11.27 and a twelve month high of $14.12. The company has a 50-day simple moving average of $12.21 and a 200 day simple moving average of $12.85.

Ellington Financial (NYSE:EFC) last released its earnings results on Wednesday, November 4th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Ellington Financial had a net margin of 41.95% and a return on equity of 16.12%. The firm had revenue of $117.72 million during the quarter, compared to the consensus estimate of $125.83 million. Analysts predict that Ellington Financial will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ellington Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in EFC. BlackRock Inc. bought a new position in shares of Ellington Financial during the second quarter valued at $284,144,000. State Street Corp lifted its holdings in shares of Ellington Financial by 7.5% during the second quarter. State Street Corp now owns 4,952,930 shares of the financial services provider’s stock worth $68,043,000 after purchasing an additional 347,567 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Ellington Financial during the second quarter worth $11,133,000. Principal Financial Group Inc. grew its stake in shares of Ellington Financial by 18.5% in the first quarter. Principal Financial Group Inc. now owns 605,681 shares of the financial services provider’s stock worth $7,177,000 after purchasing an additional 94,625 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Ellington Financial by 263.7% in the first quarter. First Trust Advisors LP now owns 593,740 shares of the financial services provider’s stock worth $7,036,000 after purchasing an additional 430,477 shares during the last quarter. 55.62% of the stock is currently owned by institutional investors and hedge funds.

Ellington Financial Company Profile

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.