Ellington Financial Inc. (NYSE:EFC) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Ellington Financial Inc. (NYSE:EFC) have earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $13.83.

A number of analysts have recently weighed in on EFC shares. Zacks Research lowered shares of Ellington Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. UBS Group upped their price target on Ellington Financial from $14.00 to $14.50 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. JonesTrading lowered their price target on Ellington Financial from $14.50 to $13.00 and set a “buy” rating for the company in a research report on Thursday. Weiss Ratings cut Ellington Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen lowered Ellington Financial from a “hold” rating to a “sell” rating in a research report on Saturday.

Ellington Financial Stock Performance

NYSE:EFC opened at $11.29 on Tuesday. The firm has a market cap of $1.46 billion, a PE ratio of 6.80 and a beta of 1.01. Ellington Financial has a fifty-two week low of $11.15 and a fifty-two week high of $14.12. The company has a debt-to-equity ratio of 10.57, a quick ratio of 52.06 and a current ratio of 45.99. The business has a 50 day moving average price of $12.17 and a 200-day moving average price of $12.84.

Ellington Financial (NYSE:EFC) last issued 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 return on equity of 15.83% and a net margin of 41.95%. The firm had revenue of $117.72 million during the quarter, compared to analysts’ expectations of $125.83 million. Equities research analysts predict that Ellington Financial will post 2.07 earnings per share for the current year.

Ellington Financial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 30th will be issued a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.8%. The ex-dividend date is Monday, November 30th. Ellington Financial’s dividend payout ratio is currently 93.98%.

Ellington Financial News Summary

Here are the key news stories impacting Ellington Financial this week:

• Positive Sentiment: The board declared a monthly dividend of $0.13 per share, payable December 31 to shareholders of record November 30. That equates to $1.56 annualized and a reported yield of 13.7%, supporting EFC’s appeal to income-focused investors. Dividend announcement
• Neutral Sentiment: Ellington is pursuing growth in non-qualified mortgage servicing through a new acquisition. The strategy could expand its servicing business, though the supplied report does not detail the deal’s terms or expected financial contribution. Non-QM servicing acquisition article
• Negative Sentiment: Q3 earnings were $0.45 per share versus the $0.47 consensus, while revenue of $117.72 million also fell short of the $125.83 million estimate. The modest misses may have pressured the shares. Q3 results
• Negative Sentiment: JonesTrading cut its price target from $14.50 to $13.00, tempering its outlook, although it maintained a Buy rating. The new target still implies potential upside from the cited $11.29 price. JonesTrading rating information

Institutional Trading of Ellington Financial

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in Ellington Financial by 18.3% during the second quarter. GAMMA Investing LLC now owns 5,071 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 785 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Ellington Financial by 267.4% in the 1st quarter. Sound Income Strategies LLC now owns 2,208 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,607 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Ellington Financial by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,525 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 1,610 shares during the last quarter. MCF Advisors LLC bought a new stake in shares of Ellington Financial in the 2nd quarter valued at approximately $25,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Ellington Financial by 287.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,566 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,904 shares during the period. Institutional investors own 55.62% of the company’s stock.

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.