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

Ellington Financial Inc. (NYSE:EFC)’s stock price hit a new 52-week low on Tuesday . The stock 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.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EFC. Keefe, Bruyette & Woods dropped their price objective on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com raised Ellington Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.06.

Ellington Financial Stock Down 0.3 %

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

Ellington Financial (NYSE:EFC) last announced its earnings results 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). The business had revenue of $27.99 million for the quarter, compared to analysts’ expectations of $30.77 million. Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. During the same quarter in the prior year, the company posted $0.42 earnings per share. On average, equities analysts expect that Ellington Financial Inc. will post 1.53 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, April 30th will be issued a $0.13 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.56 annualized dividend and a dividend yield of 14.18%. Ellington Financial’s dividend payout ratio (DPR) is presently 173.34%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. MAS Advisors LLC bought a new position in shares of Ellington Financial during the first quarter valued at approximately $446,000. Bank of New York Mellon Corp increased its holdings in shares of Ellington Financial by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 467,891 shares of the financial services provider’s stock valued at $8,306,000 after acquiring an additional 3,263 shares during the period. PNC Financial Services Group Inc. lifted 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 during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Ellington Financial by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 28,857 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 10,227 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Ellington Financial by 6.8% during the first quarter. Rhumbline Advisers now owns 149,445 shares of the financial services provider’s stock valued at $2,653,000 after purchasing an additional 9,534 shares in the last quarter. Hedge funds and other 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.