Ellington Financial’s (EFC) Buy Rating Reiterated at Maxim Group
Maxim Group restated their buy rating on shares of Ellington Financial (NYSE:EFC) in a research note released on Tuesday morning. The brokerage currently has a $19.00 target price on the financial services provider’s stock.
“3Q17 book value of $18.84 (versus $18.96 in 3Q17) implies 3Q17 EPS of $0.29 (assuming no share buybacks), versus our $0.31 estimate. Price target of $19 equates to 1.0x book value.”,” Maxim Group’s analyst commented.
Several other equities research analysts also recently commented on the company. Zacks Investment Research downgraded Ellington Financial from a hold rating to a strong sell rating in a report on Thursday, November 9th. Deutsche Bank cut their price objective on Ellington Financial from $18.00 to $17.00 and set a buy rating for the company in a report on Wednesday, November 8th. Sandler O’Neill initiated coverage on Ellington Financial in a report on Wednesday, December 6th. They issued a buy rating and a $17.00 price objective for the company. ValuEngine raised Ellington Financial from a hold rating to a buy rating in a report on Friday, December 1st. Finally, Keefe, Bruyette & Woods set a $17.00 price objective on Ellington Financial and gave the company a hold rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $17.25.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 11.01%. The ex-dividend date of this dividend was Thursday, November 30th. Ellington Financial’s dividend payout ratio is 186.36%.
A number of institutional investors have recently made changes to their positions in EFC. BB&T Securities LLC increased its position in Ellington Financial by 21.4% during the 3rd quarter. BB&T Securities LLC now owns 57,249 shares of the financial services provider’s stock worth $903,000 after buying an additional 10,107 shares during the period. Tahithromos L.L.C. increased its position in shares of Ellington Financial by 15.2% in the third quarter. Tahithromos L.L.C. now owns 140,189 shares of the financial services provider’s stock worth $2,214,000 after purchasing an additional 18,544 shares during the period. Global X MANAGEMENT CO LLC increased its position in shares of Ellington Financial by 5.7% in the third quarter. Global X MANAGEMENT CO LLC now owns 526,255 shares of the financial services provider’s stock worth $8,310,000 after purchasing an additional 28,233 shares during the period. Mutual of America Capital Management LLC increased its position in shares of Ellington Financial by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 430,003 shares of the financial services provider’s stock worth $6,790,000 after purchasing an additional 11,794 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Ellington Financial in the second quarter valued at about $1,245,000. 45.70% of the stock is owned by institutional investors and hedge funds.
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Ellington Financial Company Profile
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