Ellington Financial Inc. (NYSE:EFC) Given Average Recommendation of “Moderate Buy” by Analysts

Posted by on Jun 8th, 2023

Shares of Ellington Financial Inc. (NYSE:EFC – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.35.

EFC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised Ellington Financial from a “market perform” rating to an “outperform” rating and set a $13.75 target price for the company in a research note on Monday, May 15th. JMP Securities cut their price target on shares of Ellington Financial from $15.00 to $13.50 and set an “outperform” rating on the stock in a report on Friday, April 21st. Finally, StockNews.com began coverage on Ellington Financial in a report on Thursday, May 18th. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Ellington Financial by 8.6% in the first quarter. BlackRock Inc. now owns 11,559,525 shares of the financial services provider’s stock worth $141,142,000 after purchasing an additional 918,081 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Ellington Financial in the 1st quarter worth about $4,465,000. Wolverine Asset Management LLC purchased a new position in Ellington Financial during the 3rd quarter valued at about $3,801,000. Renaissance Technologies LLC bought a new stake in Ellington Financial during the first quarter worth about $4,913,000. Finally, First Trust Advisors LP grew its holdings in Ellington Financial by 290.0% in the first quarter. First Trust Advisors LP now owns 364,802 shares of the financial services provider’s stock worth $6,475,000 after purchasing an additional 271,270 shares during the period. Institutional investors own 54.02% of the company’s stock.

Ellington Financial Trading Up 1.1 %

EFC stock opened at $13.15 on Thursday. Ellington Financial has a one year low of $10.81 and a one year high of $16.38. The company has a market capitalization of $882.82 million, a PE ratio of -19.33 and a beta of 1.87. The company’s 50 day moving average price is $12.45 and its two-hundred day moving average price is $12.85. The company has a debt-to-equity ratio of 11.75, a quick ratio of 46.90 and a current ratio of 46.90.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 26th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.80 annualized dividend and a yield of 13.69%. Ellington Financial’s payout ratio is -264.70%.

Ellington Financial Company Profile

(Get Rating)

Ellington Financial, Inc engages in the provision of investment services. It operates through the Investment Portfolio and Longbridge segments. The Investment Portfolio segment is focused on investing in a diverse array of financial assets, which includes residential and commercial mortgage loans, residential mortgage-backed securities, commercial mortgage-backed securities, and consumer loans.

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Analyst Recommendations for Ellington Financial (NYSE:EFC)

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