Bank of New York Mellon Corp increased its position in shares of Ellington Financial Inc. (NYSE:EFC - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 671,272 shares of the financial services provider's stock after acquiring an additional 29,188 shares during the period. Bank of New York Mellon Corp owned about 0.71% of Ellington Financial worth $8,901,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Ellington Financial in the 4th quarter valued at about $254,000. Swiss National Bank raised its position in Ellington Financial by 2.2% in the 4th quarter. Swiss National Bank now owns 171,000 shares of the financial services provider's stock valued at $2,073,000 after purchasing an additional 3,600 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in Ellington Financial in the 4th quarter valued at about $140,000. Thrivent Financial for Lutherans increased its holdings in shares of Ellington Financial by 2.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 70,077 shares of the financial services provider's stock valued at $849,000 after acquiring an additional 1,812 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Ellington Financial by 3.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 30,531 shares of the financial services provider's stock valued at $370,000 after acquiring an additional 880 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on EFC shares. Piper Sandler lowered their price objective on shares of Ellington Financial from $15.00 to $14.50 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. B. Riley lifted their target price on Ellington Financial from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, UBS Group lifted their target price on Ellington Financial from $12.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $14.30.
Read Our Latest Stock Analysis on EFC
Ellington Financial Stock Up 0.2%
EFC opened at $13.16 on Tuesday. The company has a debt-to-equity ratio of 11.11, a current ratio of 42.26 and a quick ratio of 42.26. The business has a 50 day simple moving average of $12.93 and a 200-day simple moving average of $12.84. The stock has a market capitalization of $1.24 billion, a P/E ratio of 9.33 and a beta of 0.98. Ellington Financial Inc. has a 12 month low of $11.12 and a 12 month high of $14.40.
Ellington Financial (NYSE:EFC - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $107.06 million. Ellington Financial had a return on equity of 12.06% and a net margin of 101.59%. On average, equities analysts anticipate that Ellington Financial Inc. will post 1.38 earnings per share for the current fiscal year.
Ellington Financial Dividend Announcement
The firm also recently declared a jul 25 dividend, which will be paid on Friday, August 29th. Stockholders of record on Thursday, July 31st will be issued a $0.13 dividend. The ex-dividend date is Thursday, July 31st. This represents a dividend yield of 11.8%. Ellington Financial's dividend payout ratio is currently 110.64%.
Ellington Financial Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding EFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellington Financial Inc. (NYSE:EFC - Free Report).
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