Ellington Financial (NYSE:EFC) Price Target Raised to $19.50

Ellington Financial (NYSE:EFC) had its price objective upped by B. Riley from $18.50 to $19.50 in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the financial services provider’s stock. B. Riley also issued estimates for Ellington Financial’s FY2019 earnings at $1.81 EPS, Q1 2020 earnings at $0.46 EPS, Q2 2020 earnings at $0.47 EPS, Q4 2020 earnings at $0.48 EPS, FY2020 earnings at $1.88 EPS, Q1 2021 earnings at $0.46 EPS, Q2 2021 earnings at $0.46 EPS, Q3 2021 earnings at $0.49 EPS, Q4 2021 earnings at $0.51 EPS and FY2021 earnings at $1.92 EPS.

A number of other research analysts have also weighed in on EFC. Maxim Group reaffirmed a buy rating and issued a $20.00 price target on shares of Ellington Financial in a research note on Friday, January 10th. ValuEngine lowered shares of Ellington Financial from a hold rating to a sell rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Ellington Financial from a strong-buy rating to a hold rating in a research note on Tuesday, December 24th. Finally, Nomura started coverage on shares of Ellington Financial in a research note on Friday, September 27th. They issued a buy rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $20.13.

EFC stock opened at $18.74 on Monday. The firm has a market cap of $629.58 million, a P/E ratio of 10.40 and a beta of 0.38. Ellington Financial has a 52-week low of $15.38 and a 52-week high of $18.89. The company’s 50-day simple moving average is $18.29 and its 200-day simple moving average is $18.04. The company has a quick ratio of 70.03, a current ratio of 70.03 and a debt-to-equity ratio of 3.99.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. The firm had revenue of $39.99 million for the quarter, compared to analyst estimates of $39.03 million. Ellington Financial had a net margin of 28.49% and a return on equity of 9.00%. On average, analysts anticipate that Ellington Financial will post 1.81 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, January 31st will be paid a $0.15 dividend. The ex-dividend date is Thursday, January 30th. This is a positive change from Ellington Financial’s previous monthly dividend of $0.14. This represents a $1.80 dividend on an annualized basis and a yield of 9.61%. Ellington Financial’s dividend payout ratio (DPR) is currently 119.15%.

A number of institutional investors have recently modified their holdings of EFC. Tower Research Capital LLC TRC lifted its stake in Ellington Financial by 108.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,550 shares of the financial services provider’s stock valued at $28,000 after buying an additional 808 shares in the last quarter. Strs Ohio lifted its stake in Ellington Financial by 15.3% in the 3rd quarter. Strs Ohio now owns 8,300 shares of the financial services provider’s stock valued at $149,000 after buying an additional 1,100 shares in the last quarter. Wolverine Trading LLC purchased a new position in Ellington Financial in the 2nd quarter valued at about $184,000. Russell Investments Group Ltd. lifted its stake in Ellington Financial by 201.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 10,897 shares of the financial services provider’s stock valued at $193,000 after buying an additional 7,283 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Ellington Financial in the 3rd quarter valued at about $193,000. 63.25% of the stock is currently owned by hedge funds and other institutional investors.

About Ellington Financial

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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