Ellington Financial (NYSE:EFC) Upgraded by B. Riley to Strong-Buy Rating

B. Riley upgraded shares of Ellington Financial (NYSE:EFC) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Ellington Financial Stock Down 0.7 %

Ellington Financial stock opened at $12.15 on Tuesday. The company has a current ratio of 37.04, a quick ratio of 37.04 and a debt-to-equity ratio of 10.87. The firm’s fifty day moving average price is $12.25 and its two-hundred day moving average price is $12.59. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.27 and a beta of 1.97. Ellington Financial has a 1-year low of $10.88 and a 1-year high of $13.46.

Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $33.63 million during the quarter, compared to the consensus estimate of $37.95 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. During the same quarter in the previous year, the business earned $0.33 EPS. On average, equities research analysts predict that Ellington Financial will post 1.37 earnings per share for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a yield of 12.84%. The ex-dividend date is Friday, January 31st. Ellington Financial’s dividend payout ratio (DPR) is presently 119.08%.

Insider Transactions at Ellington Financial

In other Ellington Financial news, CIO Michael W. Vranos sold 14,000 shares of Ellington Financial stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $12.48, for a total transaction of $174,720.00. Following the transaction, the executive now owns 168,359 shares of the company’s stock, valued at $2,101,120.32. This trade represents a 7.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Ellington Financial

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Ellington Financial by 48.0% during the third quarter. JPMorgan Chase & Co. now owns 231,543 shares of the financial services provider’s stock worth $2,985,000 after buying an additional 75,143 shares during the last quarter. Barclays PLC grew its position in shares of Ellington Financial by 230.3% during the 3rd quarter. Barclays PLC now owns 138,440 shares of the financial services provider’s stock valued at $1,784,000 after acquiring an additional 96,525 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of Ellington Financial during the 3rd quarter worth approximately $62,000. Geode Capital Management LLC raised its holdings in shares of Ellington Financial by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,965,296 shares of the financial services provider’s stock worth $25,338,000 after purchasing an additional 46,530 shares during the period. Finally, Jane Street Group LLC lifted its stake in Ellington Financial by 38.3% in the third quarter. Jane Street Group LLC now owns 142,085 shares of the financial services provider’s stock valued at $1,831,000 after purchasing an additional 39,355 shares during the last quarter. 55.62% of the stock is currently owned by 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.