Ellington Financial (NYSE:EFC – Get Free Report)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a report issued on Thursday,Benzinga reports. They presently have a $14.00 target price on the financial services provider’s stock. JMP Securities’ target price would indicate a potential upside of 12.40% from the company’s previous close.
Separately, B. Riley upgraded Ellington Financial to a “strong-buy” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.58.
Check Out Our Latest Report on Ellington Financial
Ellington Financial Price Performance
Ellington Financial (NYSE:EFC – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $33.63 million for the quarter, compared to analysts’ expectations of $37.95 million. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. During the same period last year, the firm posted $0.33 EPS. Equities research analysts forecast that Ellington Financial will post 1.38 EPS for the current year.
Institutional Investors Weigh In On Ellington Financial
A number of large investors have recently made changes to their positions in EFC. Clear Harbor Asset Management LLC purchased a new position in shares of Ellington Financial in the 4th quarter valued at approximately $564,000. Harbor Capital Advisors Inc. lifted its stake in shares of Ellington Financial by 3.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 749,307 shares of the financial services provider’s stock valued at $9,082,000 after purchasing an additional 22,528 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Ellington Financial by 48.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 231,543 shares of the financial services provider’s stock valued at $2,985,000 after purchasing an additional 75,143 shares during the period. Barclays PLC lifted its stake in shares of Ellington Financial by 230.3% in the 3rd quarter. Barclays PLC now owns 138,440 shares of the financial services provider’s stock valued at $1,784,000 after purchasing an additional 96,525 shares during the period. Finally, McIlrath & Eck LLC purchased a new position in shares of Ellington Financial in the 3rd quarter valued at approximately $62,000. 55.62% of the stock is currently owned by institutional investors.
Ellington Financial 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 mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.
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