Ellington Financial (NYSE:EFC) Price Target Raised to $14.50

Ellington Financial (NYSE:EFC) had its target price raised by Keefe, Bruyette & Woods from $13.75 to $14.50 in a research note released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $14.00 price target on shares of Ellington Financial in a report on Thursday, January 23rd. B. Riley upgraded Ellington Financial to a “strong-buy” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ellington Financial has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Ellington Financial Stock Performance

Shares of EFC opened at $13.62 on Monday. The stock has a 50 day moving average price of $12.66 and a 200 day moving average price of $12.64. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.39 and a beta of 1.97. Ellington Financial has a 52-week low of $10.88 and a 52-week high of $14.40.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. The firm had revenue of $38.13 million during the quarter, compared to the consensus estimate of $112.88 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. Research analysts predict that Ellington Financial will post 1.38 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, February 28th will be paid a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 11.46%. The ex-dividend date is Friday, February 28th. Ellington Financial’s dividend payout ratio is currently 113.04%.

Institutional Investors Weigh In On Ellington Financial

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC raised its stake in shares of Ellington Financial by 18,200.0% during the fourth quarter. Larson Financial Group LLC now owns 2,562 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 2,548 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Ellington Financial by 162.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,602 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,610 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Ellington Financial by 814.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,644 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 2,355 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Ellington Financial during the fourth quarter worth approximately $37,000. Finally, State of Wyoming purchased a new stake in shares of Ellington Financial during the fourth quarter worth approximately $56,000. Hedge funds and other 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.