Ellington Financial (NYSE:EFC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Ellington Financial (NYSE:EFC - Free Report) had its price objective hoisted by Keefe, Bruyette & Woods from $13.75 to $14.50 in a report issued on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider's stock.

EFC has been the topic of a number of other reports. 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. B. Riley raised shares of Ellington Financial to a "strong-buy" rating in a research note on Tuesday, January 7th. Two 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $14.00.

Ellington Financial Price Performance

EFC traded down $0.15 on Monday, hitting $13.47. 1,277,809 shares of the company's stock traded hands, compared to its average volume of 1,089,114. Ellington Financial has a one year low of $10.88 and a one year high of $14.40. The company has a current ratio of 37.04, a quick ratio of 37.04 and a debt-to-equity ratio of 10.87. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 10.28 and a beta of 1.97. The company's 50 day simple moving average is $12.69 and its 200-day simple moving average is $12.65.

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Ellington Financial (NYSE:EFC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%. The business had revenue of $38.13 million for the quarter, compared to analysts' expectations of $112.88 million. As a group, research analysts anticipate that Ellington Financial will post 1.38 EPS for the current year.

Ellington Financial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, February 28th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.56 dividend on an annualized basis and a yield of 11.59%. Ellington Financial's dividend payout ratio is presently 113.04%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EFC. Delphi Financial Group Inc. acquired a new position in shares of Ellington Financial during the fourth quarter worth $4,704,000. Invesco Ltd. grew its stake in Ellington Financial by 17.2% during the 4th quarter. Invesco Ltd. now owns 2,364,583 shares of the financial services provider's stock worth $28,659,000 after buying an additional 347,587 shares during the last quarter. Northern Trust Corp increased its position in Ellington Financial by 39.8% during the 4th quarter. Northern Trust Corp now owns 1,092,902 shares of the financial services provider's stock valued at $13,246,000 after buying an additional 311,406 shares in the last quarter. GraniteShares Advisors LLC purchased a new stake in Ellington Financial during the 4th quarter worth approximately $2,462,000. Finally, Strategic Financial Concepts LLC increased its position in shares of Ellington Financial by 1,030.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 219,372 shares of the financial services provider's stock valued at $2,659,000 after acquiring an additional 199,972 shares during the period. Institutional investors own 55.62% of the company's stock.

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.