Ellington Financial Inc. (NYSE:EFC) Receives Average Recommendation of “Hold” from Brokerages

Ellington Financial Inc. (NYSE:EFCGet Rating) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $16.65.

Several analysts have commented on EFC shares. Keefe, Bruyette & Woods cut Ellington Financial from an “outperform” rating to a “market perform” rating and set a $14.75 price target for the company. in a report on Monday, July 18th. Credit Suisse Group lowered their price target on Ellington Financial to $17.00 in a report on Friday, July 22nd. Piper Sandler decreased their target price on Ellington Financial from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, June 24th. Finally, JMP Securities decreased their target price on Ellington Financial from $17.50 to $16.50 and set a “market outperform” rating for the company in a report on Thursday, August 25th.

Hedge Funds Weigh In On Ellington Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its holdings in Ellington Financial by 0.4% in the 2nd quarter. Mackenzie Financial Corp now owns 172,792 shares of the financial services provider’s stock worth $2,535,000 after acquiring an additional 697 shares during the period. Sigma Planning Corp raised its position in shares of Ellington Financial by 6.4% in the 2nd quarter. Sigma Planning Corp now owns 12,167 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 729 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of 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 valued at $25,000 after purchasing an additional 759 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Ellington Financial by 8.6% in the 1st quarter. Teacher Retirement System of Texas now owns 11,247 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 895 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its position in shares of Ellington Financial by 4.1% in the 2nd quarter. Maryland State Retirement & Pension System now owns 22,967 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 54.41% of the company’s stock.

Ellington Financial Trading Up 2.5 %

Shares of EFC stock opened at $14.80 on Tuesday. The firm has a 50-day moving average price of $15.34 and a 200 day moving average price of $15.93. Ellington Financial has a twelve month low of $12.74 and a twelve month high of $18.95. The company has a market capitalization of $888.74 million, a price-to-earnings ratio of -64.35 and a beta of 1.78. The company has a current ratio of 25.88, a quick ratio of 25.88 and a debt-to-equity ratio of 4.62.

Ellington Financial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 12.16%. The ex-dividend date of this dividend is Thursday, September 29th. Ellington Financial’s dividend payout ratio is presently -782.61%.

About Ellington Financial

(Get Rating)

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 residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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