Ellington Financial (NYSE:EFC) Reaches New 1-Year Low at $10.88

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of 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 raised shares of Ellington Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.06.

Ellington Financial Price Performance

The company has a 50-day moving average of $11.59 and a 200 day moving average of $12.29. The firm has a market cap of $935.66 million, a P/E ratio of 12.25 and a beta of 1.92. The company has a debt-to-equity ratio of 11.30, a quick ratio of 46.75 and a current ratio of 46.75.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). The firm had revenue of $27.99 million for the quarter, compared to the consensus estimate of $30.77 million. Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. During the same period in the prior year, the company posted $0.42 earnings per share. On average, sell-side analysts anticipate that Ellington Financial Inc. will post 1.53 EPS 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 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 yield of 14.18%. Ellington Financial’s dividend payout ratio is currently 173.34%.

Hedge Funds Weigh In On Ellington Financial

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in Ellington Financial by 126.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock valued at $25,000 after buying an additional 759 shares during the period. Captrust Financial Advisors acquired a new position in Ellington Financial in the second quarter valued at approximately $33,000. Tower Research Capital LLC TRC boosted its holdings in shares of Ellington Financial by 65.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,742 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,086 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Ellington Financial during the 1st quarter worth approximately $62,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Ellington Financial in the 3rd quarter valued at $45,000. Institutional investors own 55.62% of the company’s stock.

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.