Ellington Financial (NYSE:EFC) Price Target Raised to $12.50 at UBS Group

Ellington Financial (NYSE:EFC - Free Report) had its price objective increased by UBS Group from $12.00 to $12.50 in a research report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider's stock.

EFC has been the subject of several other research reports. Piper Sandler dropped their price objective on shares of Ellington Financial from $15.00 to $14.50 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. B. Riley boosted their price objective on shares of Ellington Financial from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.30.

Ellington Financial Price Performance

NYSE:EFC traded down $0.04 on Thursday, hitting $13.21. The company had a trading volume of 215,111 shares, compared to its average volume of 1,040,741. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 9.37 and a beta of 0.98. The company has a current ratio of 42.26, a quick ratio of 42.26 and a debt-to-equity ratio of 11.11. The firm has a 50 day moving average of $12.89 and a two-hundred day moving average of $12.79. 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 issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $82.91 million during the quarter, compared to the consensus estimate of $107.06 million. Ellington Financial had a net margin of 101.59% and a return on equity of 12.06%. On average, research analysts anticipate that Ellington Financial will post 1.38 earnings per share for the current year.

Ellington Financial Dividend Announcement

The business also recently declared a jul 25 dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, July 31st will be paid a $0.13 dividend. The ex-dividend date is Thursday, July 31st. This represents a dividend yield of 11.8%. Ellington Financial's payout ratio is 110.64%.

Hedge Funds Weigh In On Ellington Financial

A number of hedge funds have recently bought and sold shares of EFC. Larson Financial Group LLC raised its stake in Ellington Financial by 18,200.0% during the fourth quarter. Larson Financial Group LLC now owns 2,562 shares of the financial services provider's stock worth $31,000 after buying an additional 2,548 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Ellington Financial by 162.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,602 shares of the financial services provider's stock worth $32,000 after buying an additional 1,610 shares during the last quarter. Sterling Capital Management LLC raised its stake in Ellington Financial by 814.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,644 shares of the financial services provider's stock worth $32,000 after buying an additional 2,355 shares during the last quarter. AlphaQuest LLC bought a new position in Ellington Financial during the fourth quarter worth $37,000. Finally, State of Wyoming bought a new position in Ellington Financial during the fourth quarter worth $56,000. Institutional investors 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.