Ellington Financial (NYSE:EFC) Given New $14.00 Price Target at JMP Securities

Ellington Financial (NYSE:EFC) had its target price lowered by JMP Securities from $14.50 to $14.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a market outperform rating on the financial services provider’s stock.

Several other equities analysts have also commented on EFC. StockNews.com raised shares of Ellington Financial from a sell rating to a hold rating in a report on Thursday, May 2nd. Jonestrading began coverage on shares of Ellington Financial in a research report on Friday, April 19th. They set a hold rating for the company. Finally, BTIG Research dropped their price target on shares of Ellington Financial from $15.50 to $13.50 and set a buy rating for the company in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $13.85.

Ellington Financial Price Performance

Shares of NYSE:EFC opened at $12.89 on Wednesday. The company’s fifty day moving average price is $12.30 and its 200-day moving average price is $12.00. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 20.14 and a beta of 1.97. Ellington Financial has a one year low of $10.88 and a one year high of $14.05. The company has a debt-to-equity ratio of 10.99, a current ratio of 46.79 and a quick ratio of 46.79.

Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). The company had revenue of $31.06 million during the quarter, compared to the consensus estimate of $26.68 million. Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. On average, equities research analysts anticipate that Ellington Financial will post 1.46 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 26th. Stockholders of record on Wednesday, July 31st will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.56 annualized dividend and a dividend yield of 12.10%. Ellington Financial’s dividend payout ratio is 243.75%.

Insider Transactions at Ellington Financial

In other news, CIO Michael W. Vranos sold 5,900 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total value of $71,508.00. Following the completion of the sale, the executive now directly owns 179,655 shares of the company’s stock, valued at approximately $2,177,418.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CIO Michael W. Vranos sold 5,900 shares of Ellington Financial stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total transaction of $71,508.00. Following the completion of the transaction, the executive now directly owns 179,655 shares of the company’s stock, valued at approximately $2,177,418.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CIO Michael W. Vranos sold 8,300 shares of Ellington Financial stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $12.11, for a total transaction of $100,513.00. Following the transaction, the executive now directly owns 169,174 shares of the company’s stock, valued at $2,048,697.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,500 shares of company stock valued at $272,866. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in Ellington Financial by 20.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 658,398 shares of the financial services provider’s stock valued at $8,368,000 after purchasing an additional 111,314 shares in the last quarter. Norden Group LLC increased its stake in Ellington Financial by 763.2% during the 1st quarter. Norden Group LLC now owns 107,506 shares of the financial services provider’s stock valued at $1,270,000 after purchasing an additional 95,051 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Ellington Financial by 14.1% during the 4th quarter. State of Alaska Department of Revenue now owns 48,320 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 5,972 shares in the last quarter. Vanguard Group Inc. increased its stake in Ellington Financial by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,263,422 shares of the financial services provider’s stock valued at $53,165,000 after purchasing an additional 53,357 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in Ellington Financial by 2.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 68,987 shares of the financial services provider’s stock valued at $815,000 after purchasing an additional 1,548 shares in the last quarter. 55.62% of the stock is owned by hedge funds and other institutional investors.

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.