Ellington Financial (NYSE:EFC) Hits New 52-Week Low at $10.88

Ellington Financial Inc. (NYSE:EFC - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $10.88 and last traded at $10.95, with a volume of 281690 shares changing hands. The stock had previously closed at $11.03.

Wall Street Analyst Weigh In

A number of analysts have commented on EFC shares. Keefe, Bruyette & Woods cut their price target on shares of Ellington Financial from $14.00 to $13.25 and set an "outperform" rating on the stock in a research report on Wednesday, February 28th. StockNews.com raised shares of Ellington Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $14.06.

Ellington Financial Stock Up 0.0 %

The firm's fifty day moving average price is $11.57 and its two-hundred day moving average price is $12.28. The stock has a market cap of $938.64 million, a price-to-earnings ratio of 12.26 and a beta of 1.92. The company has a debt-to-equity ratio of 11.30, a current ratio of 46.75 and a quick ratio of 46.75.

Ellington Financial (NYSE:EFC - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The company had revenue of $27.99 million for the quarter, compared to analyst estimates of $30.77 million. During the same quarter in the prior year, the company posted $0.42 EPS. Sell-side analysts forecast that Ellington Financial Inc. will post 1.53 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 30th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 14.14%. Ellington Financial's dividend payout ratio is presently 173.34%.

Institutional Investors Weigh In On Ellington Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Ellington Financial by 126.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider's stock valued at $25,000 after buying an additional 759 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Ellington Financial in the 2nd quarter valued at about $33,000. Tower Research Capital LLC TRC increased its stake in Ellington Financial by 65.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,742 shares of the financial services provider's stock valued at $38,000 after buying an additional 1,086 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Ellington Financial in the 1st quarter valued at about $62,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Ellington Financial in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds 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.