Jacobs Asset Management LLC Cuts Position in Ellington Financial Inc. (NYSE:EFC)

Jacobs Asset Management LLC lowered its position in shares of Ellington Financial Inc. (NYSE:EFC) by 21.2% in the fourth quarter, Holdings Channel reports. The firm owned 126,976 shares of the financial services provider’s stock after selling 34,214 shares during the period. Ellington Financial makes up about 0.9% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Jacobs Asset Management LLC’s holdings in Ellington Financial were worth $1,539,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted 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 in the last quarter. Steward Partners Investment Advisory LLC lifted its position in Ellington Financial by 162.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,602 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,610 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Ellington Financial by 814.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,644 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 2,355 shares during the period. AlphaQuest LLC acquired a new stake in Ellington Financial in the fourth quarter valued at approximately $37,000. Finally, Motiv8 Investments LLC purchased a new stake in shares of Ellington Financial during the fourth quarter valued at approximately $133,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.

Ellington Financial Stock Performance

Shares of EFC opened at $12.95 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 9.89 and a beta of 1.01. 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 business’s 50 day moving average is $12.83 and its two-hundred day moving average is $12.61. Ellington Financial Inc. has a 52-week low of $11.12 and a 52-week high of $14.40.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The firm had revenue of $82.91 million for the quarter, compared to analysts’ expectations of $107.06 million. Analysts forecast that Ellington Financial Inc. will post 1.38 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $1.56 annualized dividend and a dividend yield of 12.05%. Ellington Financial’s payout ratio is 113.04%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EFC. Keefe, Bruyette & Woods upped their target price on shares of Ellington Financial from $13.75 to $14.50 and gave the company an “outperform” rating in a research note on Monday, March 3rd. JMP Securities reissued a “market outperform” rating and issued a $14.00 price objective on shares of Ellington Financial in a research report on Thursday, January 23rd.

Ellington Financial 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.