Ellington Financial’s (EFC) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Ellington Financial (NYSE:EFC) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $14.50 price objective on the financial services provider’s stock.

A number of other research firms also recently weighed in on EFC. Keefe, Bruyette & Woods reduced 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 report on Wednesday, February 28th. BTIG Research cut their price objective on shares of Ellington Financial from $15.50 to $13.50 and set a buy rating on the stock in a research report on Thursday. Finally, StockNews.com downgraded shares of Ellington Financial from a hold rating to a sell rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $13.95.

Ellington Financial Stock Up 1.3 %

NYSE:EFC opened at $11.27 on Thursday. The firm’s 50-day moving average price is $11.54 and its 200-day moving average price is $12.26. The company has a market capitalization of $958.20 million, a PE ratio of 12.52 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 has a 1-year low of $10.88 and a 1-year high of $14.21.

Ellington Financial (NYSE:EFC) last released its earnings results on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $27.99 million during the quarter, compared to analysts’ expectations of $30.77 million. Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. During the same period in the prior year, the company earned $0.42 earnings per share. On average, equities analysts predict that Ellington Financial will post 1.53 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.85%. The ex-dividend date of this dividend is Monday, April 29th. Ellington Financial’s payout ratio is presently 173.34%.

Institutional Trading of Ellington Financial

A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of 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 worth $25,000 after purchasing an additional 759 shares during the period. Captrust Financial Advisors bought a new position in shares of Ellington Financial in the 2nd quarter worth approximately $33,000. Tower Research Capital LLC TRC lifted its stake in shares of 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 worth $38,000 after purchasing an additional 1,086 shares during the period. Quantbot Technologies LP bought a new position in shares of Ellington Financial in the 1st quarter worth approximately $62,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Ellington Financial in the 3rd quarter worth approximately $45,000. Hedge funds and other 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.