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

JMP Securities reissued their market outperform rating on shares of Ellington Financial (NYSE:EFC) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $14.00 price target on the financial services provider’s stock.

Separately, B. Riley raised Ellington Financial to a “strong-buy” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ellington Financial has an average rating of “Moderate Buy” and a consensus price target of $13.58.

Ellington Financial Stock Performance

NYSE EFC opened at $12.55 on Thursday. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04. The company has a market capitalization of $1.14 billion, a PE ratio of 9.58 and a beta of 1.97. Ellington Financial has a 52-week low of $10.88 and a 52-week high of $13.46. The company has a 50-day simple moving average of $12.30 and a 200 day simple moving average of $12.61.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The company had revenue of $33.63 million during the quarter, compared to analyst estimates of $37.95 million. During the same quarter last year, the business posted $0.33 EPS. On average, research analysts predict that Ellington Financial will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, January 31st will be given a $0.13 dividend. This represents a $1.56 annualized dividend and a dividend yield of 12.44%. The ex-dividend date is Friday, January 31st. Ellington Financial’s dividend payout ratio (DPR) is presently 119.08%.

Institutional Trading of Ellington Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC purchased a new position in Ellington Financial during the 4th quarter valued at about $564,000. Harbor Capital Advisors Inc. boosted its position in shares of Ellington Financial by 3.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 749,307 shares of the financial services provider’s stock valued at $9,082,000 after acquiring an additional 22,528 shares during the period. JPMorgan Chase & Co. grew its stake in Ellington Financial by 48.0% during the third quarter. JPMorgan Chase & Co. now owns 231,543 shares of the financial services provider’s stock valued at $2,985,000 after acquiring an additional 75,143 shares in the last quarter. Barclays PLC increased its holdings in Ellington Financial by 230.3% during the 3rd quarter. Barclays PLC now owns 138,440 shares of the financial services provider’s stock worth $1,784,000 after acquiring an additional 96,525 shares during the period. Finally, McIlrath & Eck LLC purchased a new stake in Ellington Financial in the 3rd quarter worth approximately $62,000. 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.