Ellington Financial (NYSE:EFC) Rating Increased to Strong-Buy at B. Riley

B. Riley upgraded shares of Ellington Financial (NYSE:EFC) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Ellington Financial Stock Down 0.7 %

Shares of NYSE EFC opened at $12.15 on Tuesday. Ellington Financial has a 12-month low of $10.88 and a 12-month high of $13.46. The firm’s 50-day simple moving average is $12.25 and its 200 day simple moving average is $12.59. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 9.27 and a beta of 1.97.

Ellington Financial (NYSE:EFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $33.63 million for the quarter, compared to analyst estimates of $37.95 million. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. During the same period in the prior year, the business earned $0.33 earnings per share. On average, research analysts expect that Ellington Financial will post 1.37 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, January 31st will be given a dividend of $0.13 per share. The ex-dividend date is Friday, January 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.84%. Ellington Financial’s payout ratio is currently 119.08%.

Insider Activity at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of Ellington Financial stock in a transaction on Monday, October 14th. The shares were sold at an average price of $12.48, for a total transaction of $174,720.00. Following the completion of the sale, the executive now owns 168,359 shares of the company’s stock, valued at approximately $2,101,120.32. The trade was a 7.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Ellington Financial by 48.0% during the third quarter. JPMorgan Chase & Co. now owns 231,543 shares of the financial services provider’s stock worth $2,985,000 after buying an additional 75,143 shares during the last quarter. Barclays PLC raised its position in shares of Ellington Financial by 230.3% in the 3rd quarter. Barclays PLC now owns 138,440 shares of the financial services provider’s stock valued at $1,784,000 after acquiring an additional 96,525 shares during the period. McIlrath & Eck LLC bought a new position in Ellington Financial during the 3rd quarter worth approximately $62,000. Geode Capital Management LLC grew its holdings in Ellington Financial by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,965,296 shares of the financial services provider’s stock valued at $25,338,000 after purchasing an additional 46,530 shares during the period. Finally, Jane Street Group LLC increased its stake in Ellington Financial by 38.3% in the third quarter. Jane Street Group LLC now owns 142,085 shares of the financial services provider’s stock valued at $1,831,000 after purchasing an additional 39,355 shares in the last quarter. 55.62% of the stock is currently owned by institutional investors.

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.