Ellington Financial (NYSE:EFC) Sets New 12-Month Low at $10.88

Ellington Financial Inc. (NYSE:EFC)’s share price reached a new 52-week low on Tuesday . The company traded as low as $10.88 and last traded at $10.95, with a volume of 281690 shares traded. The stock had previously closed at $11.03.

Wall Street Analyst Weigh In

EFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut their price objective on Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. StockNews.com lowered Ellington Financial from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.06.

Ellington Financial Stock Up 0.8 %

The firm has a fifty day moving average of $11.55 and a 200 day moving average of $12.27. The stock has a market cap of $945.44 million, a PE ratio of 12.35 and a beta of 1.92. The company has a quick ratio of 46.75, a current ratio of 46.75 and a debt-to-equity ratio of 11.30.

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

Ellington Financial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, April 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 14.04%. Ellington Financial’s payout ratio is 173.34%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in shares of Ellington Financial by 126.5% during 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 in the last quarter. Portside Wealth Group LLC lifted its stake in shares of Ellington Financial by 8.3% during the 3rd quarter. Portside Wealth Group LLC now owns 10,903 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 835 shares during the period. HighTower Advisors LLC lifted its stake in shares of Ellington Financial by 7.8% during the 4th quarter. HighTower Advisors LLC now owns 11,792 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 855 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Ellington Financial by 2.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 43,174 shares of the financial services provider’s stock worth $538,000 after purchasing an additional 996 shares during the period. Finally, Optimum Investment Advisors lifted its stake in shares of Ellington Financial by 8.4% during the 4th quarter. Optimum Investment Advisors now owns 12,900 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 1,000 shares during the period. 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.