Ellington Financial (NYSE:EFC) Earns “Buy” Rating from Maxim Group

Ellington Financial (NYSE:EFC)‘s stock had its “buy” rating reaffirmed by analysts at Maxim Group in a report released on Friday, AnalystRatings.com reports. They presently have a $20.00 target price on the financial services provider’s stock. Maxim Group’s price target indicates a potential upside of 6.55% from the company’s previous close.

EFC has been the subject of a number of other reports. Zacks Investment Research raised shares of Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a report on Thursday, October 24th. ValuEngine cut shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Nomura assumed coverage on shares of Ellington Financial in a report on Friday, September 27th. They issued a “buy” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.75.

NYSE EFC traded up $0.19 during trading hours on Friday, hitting $18.77. 537,080 shares of the stock were exchanged, compared to its average volume of 163,426. The company has a market cap of $615.64 million, a price-to-earnings ratio of 13.31 and a beta of 0.39. Ellington Financial has a 12-month low of $14.69 and a 12-month high of $18.79. The stock has a 50-day moving average of $18.17 and a 200 day moving average of $17.94. The company has a quick ratio of 43.66, a current ratio of 43.66 and a debt-to-equity ratio of 4.01.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $39.99 million during the quarter, compared to analysts’ expectations of $39.03 million. Ellington Financial had a net margin of 21.99% and a return on equity of 8.70%. On average, equities research analysts expect that Ellington Financial will post 1.78 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Ellington Financial by 108.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,550 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 808 shares in the last quarter. Hilton Capital Management LLC purchased a new position in shares of Ellington Financial during the 1st quarter worth approximately $45,000. Advisor Group Inc. boosted its position in Ellington Financial by 114.6% during the fourth quarter. Advisor Group Inc. now owns 3,980 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 2,125 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Ellington Financial during the fourth quarter worth approximately $82,000. Finally, Essex Savings Bank acquired a new stake in Ellington Financial during the fourth quarter worth approximately $100,000. 50.81% of the stock is owned by institutional investors and hedge funds.

Ellington Financial Company Profile

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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