Maxim Group restated their buy rating on shares of Ellington Financial LLC (NYSE:EFC) in a research report report published on Monday. The firm currently has a $20.00 price target on the financial services provider’s stock.
EFC has been the topic of a number of other reports. BidaskClub upgraded shares of Ellington Financial from a sell rating to a hold rating in a research note on Friday, August 11th. ValuEngine upgraded shares of Ellington Financial from a hold rating to a buy rating in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Ellington Financial from a hold rating to a sell rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Ellington Financial presently has an average rating of Hold and a consensus price target of $18.75.
Ellington Financial (NYSE:EFC) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.06). The business had revenue of $22.66 million for the quarter, compared to analysts’ expectations of $21.82 million. Ellington Financial had a return on equity of 5.48% and a net margin of 26.67%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.15 earnings per share.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.80 dividend on an annualized basis and a yield of 11.53%. Ellington Financial’s dividend payout ratio (DPR) is presently 257.15%.
Hedge funds have recently added to or reduced their stakes in the stock. Nine Chapters Capital Management LLC purchased a new stake in shares of Ellington Financial during the second quarter worth approximately $172,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ellington Financial during the second quarter worth approximately $216,000. Russell Investments Group Ltd. purchased a new stake in shares of Ellington Financial during the second quarter worth approximately $219,000. Citadel Advisors LLC purchased a new stake in shares of Ellington Financial during the second quarter worth approximately $277,000. Finally, Wells Fargo & Company MN increased its stake in shares of Ellington Financial by 16.9% during the first quarter. Wells Fargo & Company MN now owns 21,534 shares of the financial services provider’s stock worth $341,000 after buying an additional 3,109 shares during the period. Hedge funds and other institutional investors own 50.54% of the company’s stock.
About Ellington Financial
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