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

Ellington Financial (NYSE:EFC - Free Report) had its target price boosted by UBS Group from $12.00 to $12.50 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the financial services provider's stock.

Several other brokerages have also commented on EFC. B. Riley upped their target price on Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Piper Sandler cut their target price on Ellington Financial from $15.00 to $14.50 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.30.

Ellington Financial Trading Down 0.1%

Shares of NYSE EFC traded down $0.01 during trading on Thursday, reaching $13.23. The company had a trading volume of 624,808 shares, compared to its average volume of 981,025. The company's fifty day moving average price is $12.90 and its 200-day moving average price is $12.80. Ellington Financial has a 12 month low of $11.12 and a 12 month high of $14.40. The stock has a market cap of $1.25 billion, a P/E ratio of 9.38 and a beta of 0.98. The company has a quick ratio of 42.26, a current ratio of 42.26 and a debt-to-equity ratio of 11.11.

Ellington Financial (NYSE:EFC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Ellington Financial had a return on equity of 12.06% and a net margin of 101.59%. The firm had revenue of $82.91 million for the quarter, compared to analyst estimates of $107.06 million. As a group, research analysts expect that Ellington Financial will post 1.38 earnings per share for the current year.

Ellington Financial Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EFC. Harbor Capital Advisors Inc. raised its stake in shares of Ellington Financial by 0.8% in the second quarter. Harbor Capital Advisors Inc. now owns 497,671 shares of the financial services provider's stock worth $6,465,000 after purchasing an additional 3,783 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Ellington Financial by 40.5% in the first quarter. Voya Investment Management LLC now owns 37,338 shares of the financial services provider's stock worth $495,000 after purchasing an additional 10,755 shares during the last quarter. Strs Ohio purchased a new stake in shares of Ellington Financial in the first quarter worth approximately $217,000. Intech Investment Management LLC raised its stake in shares of Ellington Financial by 22.5% in the first quarter. Intech Investment Management LLC now owns 147,601 shares of the financial services provider's stock worth $1,957,000 after purchasing an additional 27,068 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Ellington Financial by 15.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 179,803 shares of the financial services provider's stock worth $2,384,000 after purchasing an additional 23,553 shares during the last quarter. Institutional investors 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.