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

Shares of Ellington Financial Inc. (NYSE:EFC) have received an average recommendation of “Buy” from the five analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $13.58.

Separately, B. Riley upgraded Ellington Financial to a “strong-buy” rating in a research note on Tuesday.

Ellington Financial Stock Down 0.7 %

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

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

Ellington Financial Announces Dividend

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

Insiders Place Their Bets

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $12.48, for a total value of $174,720.00. Following the sale, the executive now owns 168,359 shares in the company, valued at approximately $2,101,120.32. This trade represents a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by company insiders.

Institutional Trading of Ellington Financial

Several institutional investors have recently modified their holdings of the company. Natixis Advisors LLC acquired a new stake in Ellington Financial in the second quarter valued at approximately $208,000. Rhumbline Advisers grew its position in Ellington Financial by 7.2% during the second quarter. Rhumbline Advisers now owns 247,398 shares of the financial services provider’s stock worth $2,989,000 after buying an additional 16,722 shares in the last quarter. Arizona State Retirement System increased its position in shares of Ellington Financial by 12.7% during the second quarter. Arizona State Retirement System now owns 23,813 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 2,688 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of Ellington Financial by 1,667.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 282,746 shares of the financial services provider’s stock valued at $34,000 after buying an additional 266,746 shares in the last quarter. Finally, PFG Investments LLC bought a new position in Ellington Financial during the second quarter worth about $141,000. Institutional investors and hedge funds own 55.62% of the company’s stock.

Ellington Financial Company Profile

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.