Ellington Financial Inc. (NYSE:EFC) Given Average Recommendation of "Buy" by Analysts

Key Points

• Ellington Financial Inc. has an average analyst rating of "Buy", with a price target averaging $14.4583.
• The company recently announced a $0.13 dividend, reflecting an extraordinary yield of 1,202.0%, although its payout ratio stands at 125.81%.
• Ellington Financial reported earnings of $0.47 per share, exceeding analyst expectations, but noted a revenue of $92.54 million, which fell short of projections.

Ellington Financial Inc. (NYSE:EFC - Get Free Report) has been assigned an average rating of "Buy" from the seven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $14.4583.

A number of research firms recently commented on EFC. Jones Trading raised Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price target for the company in a research note on Wednesday, August 13th. Zacks Research raised Ellington Financial to a "strong-buy" rating in a research note on Tuesday, August 12th. Piper Sandler dropped their price target on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Finally, UBS Group lifted their target price on Ellington Financial from $12.50 to $13.50 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd.

Ellington Financial Stock Up 1.0%

EFC opened at $13.11 on Thursday. Ellington Financial has a fifty-two week low of $11.12 and a fifty-two week high of $14.40. The company has a debt-to-equity ratio of 10.96, a quick ratio of 46.78 and a current ratio of 46.78. The company has a market capitalization of $1.31 billion, a P/E ratio of 10.57 and a beta of 1.00. The stock has a fifty day moving average of $13.36 and a 200-day moving average of $13.03.

Ellington Financial (NYSE:EFC - Get Free Report) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.07. The company had revenue of $92.54 million during the quarter, compared to the consensus estimate of $112.48 million. Ellington Financial had a return on equity of 13.56% and a net margin of 89.52%. On average, equities analysts expect that Ellington Financial will post 1.38 EPS for the current year.

Ellington Financial Announces Dividend

The firm also recently announced a sep 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.13 dividend. This represents a yield of 1,202.0%. The ex-dividend date is Tuesday, September 30th. Ellington Financial's payout ratio is currently 125.81%.

Institutional Trading of Ellington Financial

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in Ellington Financial by 67.6% in the second quarter. CWM LLC now owns 2,010 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 811 shares during the last quarter. Huntington National Bank boosted its holdings in Ellington Financial by 134.4% in the second quarter. Huntington National Bank now owns 2,752 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 1,578 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Ellington Financial by 93.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,582 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 1,735 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Ellington Financial by 243.8% in the first quarter. GAMMA Investing LLC now owns 4,800 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 3,404 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Ellington Financial by 1,824.5% during the 1st quarter. Versant Capital Management Inc now owns 5,581 shares of the financial services provider's stock worth $74,000 after buying an additional 5,291 shares during the period. 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.

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