Ellington Financial (NYSE:EFC) Rating Reiterated by JMP Securities

JMP Securities restated their market outperform rating on shares of Ellington Financial (NYSE:EFC) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $14.50 price objective on the financial services provider’s stock.

A number of other analysts also recently weighed in on EFC. StockNews.com downgraded shares of Ellington Financial from a hold rating to a sell rating in a report on Wednesday. Keefe, Bruyette & Woods reduced their price target on shares of Ellington Financial from $14.00 to $13.25 and set an outperform rating for the company in a report on Wednesday, February 28th. Finally, BTIG Research reduced their price target on shares of Ellington Financial from $15.50 to $13.50 and set a buy rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $13.95.

Ellington Financial Price Performance

Shares of Ellington Financial stock opened at $11.42 on Thursday. The company has a debt-to-equity ratio of 11.30, a current ratio of 46.75 and a quick ratio of 46.75. Ellington Financial has a fifty-two week low of $10.88 and a fifty-two week high of $14.21. The firm has a fifty day moving average price of $11.53 and a two-hundred day moving average price of $12.26. The company has a market cap of $971.39 million, a PE ratio of 12.69 and a beta of 1.92.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The company had revenue of $27.99 million during the quarter, compared to the consensus estimate of $30.77 million. During the same period last year, the company earned $0.42 earnings per share. Analysts expect that Ellington Financial will post 1.53 EPS for the current year.

Ellington Financial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be paid a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.66%. The ex-dividend date of this dividend is Monday, April 29th. Ellington Financial’s dividend payout ratio is 173.34%.

Hedge Funds Weigh In On Ellington Financial

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its stake 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 buying an additional 759 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of Ellington Financial by 8.3% in the 3rd quarter. Portside Wealth Group LLC now owns 10,903 shares of the financial services provider’s stock valued at $137,000 after buying an additional 835 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Ellington Financial by 7.8% during the 4th quarter. HighTower Advisors LLC now owns 11,792 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 855 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Ellington Financial by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 43,174 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 996 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Ellington Financial by 5.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 18,462 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.

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.