Ellington Financial (NYSE:EFC) Given “Market Outperform” Rating at JMP Securities

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

Separately, B. Riley raised shares of 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 issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.58.

Ellington Financial Price Performance

Shares of NYSE:EFC opened at $12.45 on Thursday. The business has a fifty day simple moving average of $12.29 and a 200-day simple moving average of $12.61. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. Ellington Financial has a 52 week low of $10.88 and a 52 week high of $13.46. The company has a market cap of $1.13 billion, a P/E ratio of 9.50 and a beta of 1.97.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share 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 business had revenue of $33.63 million for the quarter, compared to analyst estimates of $37.95 million. During the same period in the prior year, the firm posted $0.33 EPS. Equities research analysts forecast that Ellington Financial will post 1.38 EPS for the current year.

Ellington Financial Announces Dividend

The firm also recently disclosed 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 12.53%. The ex-dividend date of this dividend is Friday, January 31st. Ellington Financial’s payout ratio is currently 119.08%.

Institutional Trading of Ellington Financial

A number of institutional investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC purchased a new position in Ellington Financial in the third quarter valued at about $62,000. Prospera Private Wealth LLC acquired a new stake in shares of Ellington Financial in the third quarter valued at about $68,000. Members Trust Co purchased a new stake in shares of Ellington Financial during the 3rd quarter valued at about $129,000. Atom Investors LP acquired a new position in Ellington Financial during the 3rd quarter worth approximately $130,000. Finally, Creative Planning purchased a new position in Ellington Financial in the 3rd quarter worth approximately $141,000. 55.62% of the stock is owned by hedge funds and other institutional investors.

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.