Ellington Financial’s (EFC) “Market Outperform” Rating Reaffirmed at JMP Securities

Ellington Financial (NYSE:EFC)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $14.00 price objective on the financial services provider’s stock. JMP Securities’ target price would indicate a potential upside of 12.40% from the stock’s current price.

Separately, B. Riley upgraded 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.58.

Ellington Financial Stock Down 0.2 %

NYSE:EFC traded down $0.03 during trading hours on Thursday, reaching $12.46. 29,057 shares of the company traded hands, compared to its average volume of 782,020. The business’s 50-day moving average price is $12.29 and its two-hundred day moving average price is $12.61. The stock has a market capitalization of $1.13 billion, a P/E ratio of 9.52 and a beta of 1.97. Ellington Financial has a 1 year low of $10.88 and a 1 year high of $13.46. The company has a current ratio of 37.04, a quick ratio of 37.04 and a debt-to-equity ratio of 10.87.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. The business had revenue of $33.63 million during the quarter, compared to analysts’ expectations of $37.95 million. During the same quarter in the previous year, the business earned $0.33 earnings per share. Analysts predict that Ellington Financial will post 1.38 earnings per share for the current year.

Institutional Trading of Ellington Financial

Several large investors have recently modified their holdings of the company. State Street Corp boosted its stake in shares of Ellington Financial by 4.1% in the third quarter. State Street Corp now owns 3,140,371 shares of the financial services provider’s stock worth $40,885,000 after acquiring an additional 124,943 shares during the period. Geode Capital Management LLC raised its position in Ellington Financial by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,965,296 shares of the financial services provider’s stock valued at $25,338,000 after purchasing an additional 46,530 shares during the period. Charles Schwab Investment Management Inc. raised its position in Ellington Financial by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,931 shares of the financial services provider’s stock valued at $10,040,000 after purchasing an additional 41,669 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Ellington Financial by 3.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 749,307 shares of the financial services provider’s stock worth $9,082,000 after buying an additional 22,528 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ellington Financial by 48.0% in the third quarter. JPMorgan Chase & Co. now owns 231,543 shares of the financial services provider’s stock worth $2,985,000 after buying an additional 75,143 shares during the period. 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.