Ellington Financial (NYSE:EFC) Sets New 12-Month Low at $10.88

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. StockNews.com cut shares of Ellington Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.06.

Ellington Financial Price Performance

The stock’s 50-day moving average price is $11.55 and its 200-day moving average price is $12.27. The company has a market capitalization of $945.44 million, a price-to-earnings ratio of 12.35 and a beta of 1.92. The company has a quick ratio of 46.75, a current ratio of 46.75 and a debt-to-equity ratio of 11.30.

Ellington Financial (NYSE:EFC) last announced its earnings results on Monday, February 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. 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 previous year, the company posted $0.42 earnings per share. Equities research analysts anticipate that Ellington Financial Inc. will post 1.53 earnings per share for the current year.

Ellington Financial Dividend Announcement

The firm also recently disclosed 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 is Monday, April 29th. This represents a $1.56 annualized dividend and a yield of 14.04%. Ellington Financial’s dividend payout ratio is currently 173.34%.

Hedge Funds Weigh In On Ellington Financial

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Ellington Financial by 126.5% in the first 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 period. Portside Wealth Group LLC lifted its holdings in Ellington Financial by 8.3% in the third quarter. Portside Wealth Group LLC now owns 10,903 shares of the financial services provider’s stock valued at $137,000 after buying an additional 835 shares during the period. HighTower Advisors LLC lifted its holdings in Ellington Financial by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 11,792 shares of the financial services provider’s stock valued at $146,000 after buying an additional 855 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Ellington Financial by 2.4% in the third quarter. Nisa Investment Advisors LLC now owns 43,174 shares of the financial services provider’s stock valued at $538,000 after buying an additional 996 shares during the period. Finally, Optimum Investment Advisors increased its stake in Ellington Financial by 8.4% in the fourth quarter. Optimum Investment Advisors now owns 12,900 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 1,000 shares in the last quarter. 55.62% of the stock is currently owned by institutional investors and hedge funds.

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.