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

Ellington Financial Inc. (NYSE:EFCGet Rating) has been given an average rating of “Hold” by the eight ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $15.38.

EFC has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Ellington Financial in a research note on Wednesday, October 12th. They set a “sell” rating on the stock. Piper Sandler decreased their price objective on Ellington Financial from $17.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, October 3rd. Maxim Group decreased their price target on Ellington Financial from $17.50 to $15.50 and set a “buy” rating for the company in a report on Thursday, October 20th. JMP Securities reduced their target price on Ellington Financial from $16.50 to $15.00 and set a “market outperform” rating for the company in a report on Thursday, October 20th. Finally, Credit Suisse Group dropped their price target on Ellington Financial to $14.00 in a research report on Thursday, October 13th.

Institutional Trading of Ellington Financial

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp lifted its stake 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 in the last quarter. Sigma Planning Corp grew its holdings in 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 buying an additional 729 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in 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 buying an additional 759 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in 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 buying an additional 895 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Ellington Financial by 4.1% during the 2nd quarter. Maryland State Retirement & Pension System now owns 22,967 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 899 shares in the last quarter. Institutional investors and hedge funds own 54.41% of the company’s stock.

Ellington Financial Stock Down 0.1 %

Shares of NYSE:EFC opened at $13.79 on Friday. The company has a debt-to-equity ratio of 5.00, a current ratio of 21.09 and a quick ratio of 21.09. The firm has a market capitalization of $833.47 million, a PE ratio of -11.59 and a beta of 1.84. The firm’s 50-day moving average is $13.01 and its two-hundred day moving average is $14.43. Ellington Financial has a 1 year low of $10.81 and a 1 year high of $18.13.

Ellington Financial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 27th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.80 dividend on an annualized basis and a yield of 13.05%. Ellington Financial’s payout ratio is currently -151.26%.

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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Analyst Recommendations for Ellington Financial (NYSE:EFC)

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