StockNews.com Lowers Ellington Financial (NYSE:EFC) to Sell

StockNews.com downgraded shares of Ellington Financial (NYSE:EFC) from a hold rating to a sell rating in a report released on Wednesday morning.

Separately, Keefe, Bruyette & Woods lowered their price target on shares of Ellington Financial from $14.00 to $13.25 and set an outperform rating for the company in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $13.95.

Ellington Financial Stock Up 1.2 %

Shares of NYSE:EFC opened at $11.41 on Wednesday. The company has a current ratio of 46.75, a quick ratio of 46.75 and a debt-to-equity ratio of 11.30. Ellington Financial has a 12 month low of $10.88 and a 12 month high of $14.21. The company has a 50-day moving average price of $11.53 and a 200 day moving average price of $12.26. The company has a market cap of $970.50 million, a price-to-earnings ratio of 12.68 and a beta of 1.92.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings results on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The business had revenue of $27.99 million during the quarter, compared to the consensus estimate of $30.77 million. During the same period in the previous year, the business posted $0.42 EPS. As a group, equities research analysts predict that Ellington Financial will post 1.53 earnings per share for the current year.

Ellington Financial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 30th will be given a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 13.67%. The ex-dividend date is Monday, April 29th. Ellington Financial’s dividend payout ratio (DPR) is currently 173.33%.

Institutional Trading of Ellington Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Ellington Financial by 126.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 759 shares during the period. Captrust Financial Advisors purchased a new stake in Ellington Financial in the 2nd quarter worth about $33,000. Tower Research Capital LLC TRC increased its position in shares of Ellington Financial by 100.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,835 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 1,424 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Ellington Financial during the third quarter worth approximately $45,000. Finally, Money Concepts Capital Corp purchased a new position in shares of Ellington Financial during the fourth quarter worth approximately $49,000. 55.62% of the stock is owned by hedge funds and other institutional investors.

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.