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

Key Points

• Ellington Financial Inc. has received an average rating of "Buy" from analysts, with one hold rating, five buy ratings, and one strong buy rating among the seven brokerages covering the stock.
• The company recently declared a monthly dividend of $0.13, with a substantial annualized dividend yield of 11.3%.
• Ellington Financial's stock has a current market cap of $1.38 billion and reported earnings of $0.47 EPS for the last quarter, surpassing analysts' expectations.

Ellington Financial Inc. (NYSE:EFC - Get Free Report) has earned a consensus recommendation of "Buy" from the seven ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.4583.

A number of research firms recently commented on EFC. UBS Group upped their price objective on Ellington Financial from $12.50 to $13.50 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Piper Sandler lowered their price target on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Zacks Research upgraded Ellington Financial to a "strong-buy" rating in a report on Tuesday, August 12th. B. Riley increased their price target on Ellington Financial from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Jones Trading upgraded Ellington Financial from a "hold" rating to a "buy" rating and set a $14.25 price target for the company in a report on Wednesday, August 13th.

Ellington Financial Trading Down 0.8%

NYSE EFC traded down $0.11 on Friday, reaching $13.43. The company had a trading volume of 1,203,794 shares, compared to its average volume of 1,290,635. The stock's 50 day moving average is $13.38 and its 200-day moving average is $13.06. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 10.83 and a beta of 1.00. The company has a quick ratio of 46.78, a current ratio of 46.78 and a debt-to-equity ratio of 10.96. Ellington Financial has a 52 week low of $11.12 and a 52 week high of $14.40.

Ellington Financial (NYSE:EFC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.07. The business 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%. Equities analysts predict that Ellington Financial will post 1.38 earnings per share for the current year.

Ellington Financial Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.13 dividend. This represents a dividend yield of 1,140.0%. The ex-dividend date is Tuesday, September 30th. Ellington Financial's dividend payout ratio is 125.81%.

Institutional Investors Weigh In On Ellington Financial

Several large investors have recently modified their holdings of EFC. Amundi bought a new stake in shares of Ellington Financial in the first quarter worth about $6,418,000. Northern Trust Corp grew its holdings in shares of Ellington Financial by 39.8% during the fourth quarter. Northern Trust Corp now owns 1,092,902 shares of the financial services provider's stock worth $13,246,000 after buying an additional 311,406 shares in the last quarter. Nuveen LLC bought a new position in shares of Ellington Financial during the first quarter worth about $3,941,000. First Trust Advisors LP grew its holdings in shares of Ellington Financial by 738.6% during the second quarter. First Trust Advisors LP now owns 310,331 shares of the financial services provider's stock worth $4,031,000 after buying an additional 273,323 shares in the last quarter. Finally, Delphi Financial Group Inc. grew its holdings in shares of Ellington Financial by 44.3% during the first quarter. Delphi Financial Group Inc. now owns 560,057 shares of the financial services provider's stock worth $7,426,000 after buying an additional 171,926 shares in the last quarter. 55.62% of the stock is currently owned by institutional investors.

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.