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Ellington Financial (NYSE:EFC) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Tuesday, StockRatingsNetwork.com reports. The firm currently has a $24.50 price target on the stock. Zacks‘s price target points to a potential upside of 1.66% from the company’s current price.

Shares of Ellington Financial (NYSE:EFC) traded up 0.88% during mid-day trading on Tuesday, hitting $24.10. 65,000 shares of the company’s stock traded hands. Ellington Financial has a one year low of $21.12 and a one year high of $26.68. The stock’s 50-day moving average is $23.48 and its 200-day moving average is $23.50. The company has a market cap of $613.1 million and a P/E ratio of 7.30.

The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 12.78%.

Separately, analysts at Bank of America reiterated a “buy” rating on shares of Ellington Financial in a research note on Tuesday, March 4th. They now have a $24.00 price target on the stock, up previously from $22.75. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $24.88.

Ellington Financial LLC (NYSE:EFC) is a specialty finance company, which specializes in acquiring and managing mortgage-related assets.

To view Zacks’ full report, visit Zacks’ official website.

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