The stock of Ellington Financial Inc. (NYSE:EFC) last traded at $13.64, up 0.66% from the previous session.
Data from the available sources indicates that Ellington Financial Inc. (NYSE:EFC) is covered by 7 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $17.00 and a low of $13.75, we find $14.50. Given the previous closing price of $13.55, this indicates a potential upside of 7.01 percent. EFC stock price is now 1.80% away from the 50-day moving average and -6.16% away from the 200-day moving average. The market capitalization of the company currently stands at $818.95M.
In total, 4 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $14.78 as their price target over the next twelve months.
With the price target maintained at $14, Credit Suisse recently Downgraded its rating from Outperform to Neutral for Ellington Financial Inc. (NYSE: EFC). On October 20, 2022, Maxim Group reiterated its ‘Buy’ rating on the stock by increasing its target price from $17.50 to quote $15.50, while ‘Keefe Bruyette’ rates the stock as ‘Mkt Perform’.
A total of 6.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in EFC stock. A new stake in Ellington Financial Inc. shares was purchased by WOLVERINE ASSET MANAGEMENT LLC during the first quarter worth $4,560,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $1,038,000 in shares of EFC during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in Ellington Financial Inc. valued at approximately $330,000. SQUAREPOINT OPS LLC acquired a new stake in EFC for approximately $313,000. ACTIVEST WEALTH MANAGEMENT purchased a new stake in EFC valued at around $300,000 in the second quarter. In total, there are 207 active investors with 57.30% ownership of the company’s stock.
With an opening price of $13.50 on Friday morning, Ellington Financial Inc. (NYSE: EFC) set off the trading day. During the past 12 months, Ellington Financial Inc. has had a low of $10.81 and a high of $18.13. The fifty day moving average price for EFC is $13.41 and a two-hundred day moving average price translates $14.51 for the stock.
The latest earnings results from Ellington Financial Inc. (NYSE: EFC) was released for Jun, 2022. According to the Mortgage Finance Company, earnings per share came in at $0.41, missing analysts’ expectations of $0.43 by -0.02. This compares to $0.41 EPS in the same period last year. The net profit margin was -30.50% and return on equity was -7.30% for EFC. The company reported revenue of $78.59 million for the quarter, compared to $40.15 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 95.77 percent. For the current quarter, analysts expect EFC to generate $37.74M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/27/2023. Investors who held shares on 01/31/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $1.80 dividend and a 13.20% percent yield. There was an ex-dividend date of 01/30/2023 for this dividend.
Ellington Financial Inc.(EFC) 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 residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S. government agency or the U.S. government-sponsored entity; residential mortgage loans; commercial mortgage-backed securities; and commercial mortgage loans and other commercial real estate debt. It also provides collateralized loan obligations; mortgage-related and non-mortgage-related derivatives; corporate debt and equity securities; corporate loans; and other strategic investments. In addition, the company offers consumer loans and asset-backed securities backed by consumer and commercial assets. Ellington Financial LLC was incorporated in 2007 and is based in Old Greenwich, Connecticut.