Ellington Financial (NYSE:EFC) Shares Pass Above 200-Day Moving Average – Here’s Why

Ellington Financial Inc. (NYSE:EFC)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.32 and traded as high as $13.78. Ellington Financial shares last traded at $13.6550, with a volume of 930,252 shares trading hands.

Analyst Ratings Changes

EFC has been the topic of a number of analyst reports. Zacks Research cut Ellington Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ellington Financial in a research note on Wednesday, October 8th. Finally, UBS Group lifted their price objective on Ellington Financial from $12.50 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.46.

Ellington Financial Price Performance

The company has a 50-day moving average of $13.60 and a two-hundred day moving average of $13.32. The company has a debt-to-equity ratio of 10.64, a current ratio of 50.60 and a quick ratio of 50.60. The stock has a market capitalization of $1.47 billion, a PE ratio of 10.19 and a beta of 0.95.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. The company had revenue of $242.08 million during the quarter, compared to analysts’ expectations of $121.99 million. Ellington Financial had a net margin of 89.04% and a return on equity of 14.55%. Sell-side analysts predict that Ellington Financial Inc. will post 1.38 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.13 dividend. The ex-dividend date is Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 11.4%. Ellington Financial’s payout ratio is currently 116.42%.

Institutional Trading of Ellington Financial

Several large investors have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Ellington Financial by 67.6% in the second quarter. CWM LLC now owns 2,010 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 811 shares in the last quarter. Huntington National Bank increased its holdings in Ellington Financial by 134.4% during the 2nd quarter. Huntington National Bank now owns 2,752 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,578 shares during the last quarter. Danske Bank A S purchased a new stake in Ellington Financial during the 3rd quarter worth approximately $44,000. Steward Partners Investment Advisory LLC raised its position in shares of Ellington Financial by 93.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,582 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Ellington Financial by 535.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 6,181 shares of the financial services provider’s stock valued at $80,000 after buying an additional 5,209 shares during the last quarter. 55.62% of the stock is currently owned by institutional investors and hedge funds.

About Ellington Financial

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.